The wave (iv) of the 5-wave down from 4/26 is at SPX 1173.57. One more short impulse left to complete a 5-wave from this morning's high should touch it. Good short point.
it looks like you can get out of your short okay, even though we did get a 30 min close above your stop price.
I agree with you that normally the 78 percent retrace would be good short opportunity. But what about the fact that both the DOW and NDX have blown thru their 78 percent retrace levels and NDX is about to tag its April high?
The other worrisome fly in the ointment is that tomorrow is a POMO day.
Steve
ReplyDeleteThat looks like all she wrote. I agree if any one was patient enough to wait this would be a real good place to go short and nail it.
Jack C
it looks like you can get out of your short okay, even though we did get a 30 min close above your stop price.
ReplyDeleteI agree with you that normally the 78 percent retrace would be good short opportunity. But what about the fact that both the DOW and NDX have blown thru their 78 percent retrace levels and NDX is about to tag its April high?
The other worrisome fly in the ointment is that tomorrow is a POMO day.
how is that I1 doing??
ReplyDeletelets face it, the market will never go down again till mid January. sigh...
ReplyDeleteAnonymous,
ReplyDeleteJust fine. You have any thoughts or just idiocy?