Just shorted 1% silver at 24.80. I ran the technical components and any up close from today's will trigger an all-out sell. Silver was up 35c when I shorted it. I re-calibrated silver's technical composite as part of this analysis and -20 is the all-out sell level.
Silver ran up after the close into a sell with a wave count complete.
Dollar index has it's latest 5 down complete from the high at 78.17.
Stock market counts complete.
Crude made it's high Thursday and I've been short ever since.
The entire complex of bullish props is now in trend reversal. This is it, boys! Confirm with DJI breaking critical support, currently 10,895 and dollar index breaking 77.79 on a 90-minute close. I'm still confirming dollar index prior wave structure to confirm all waves are done to the downside.
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Exciting times! I hope it pans out. By the way thanks for keeping up with the blog lately (while dealing with your personal issues)
ReplyDeleteYes,Sir. The consistency of this blog is by far the greatest out there. To say that we admire your efforts would be gross understatement!
ReplyDeleteHi Steve, i've been short since SPX 1145. Have been patiently waiting. Starting to wear me out. Let's hope this is the real deal.
ReplyDeleteAppreciate your work on this blog. Reading it everyday since I chanced upon it. Thx.
Trading is a rough business. The crazier it seems to open a position the more likely it is to succeed. Other fields reward incremental thinking but I believe most of us need mentors to remove the blinders. I'm happy to do it and thanks for the kindness.
ReplyDeleteGood evening, Steve.
ReplyDeleteDaneric is quite good at counting waves and by golly he's got a 5 down on today's move down. His count is a thing of beauty, so please have a look. It's the top chart as I'm writing this but sometimes he comes back later and adds more to the top of an existing post. But the chart with this count will still be there. It's of the SPX cash. The trick in getting 5 down is what he did with the 4th wave--he makes it a running flat, where the B wave exceeds the end of the 3rd wave.
http://danericselliottwaves.blogspot.com/
Have a great evening and let's see what tomorrow brings!
PS I too very much appreciate your blog and all the work you put into your analysis!
Lot of data tomorrow. Great opportunity for a stop poppin' frenzy. Silver chart looks to be tracing out a small bull flag at the moment.
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