Ideally, we can rally to 1486 this week. A reversal candle on Thursday would be real nice.
I'm long the weekly SPY 145 call from fifteen cents.
Hmm, just wondering here, but what if we get more Fed Magic on Wednesday, sending us skyward, only to have a failed auction for the 7-year note on Thursday? That could do it.
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| SPX daily with the noise turned off |
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| VIX breakdown |
2 comments:
Dang, some overnight. If W3 of this last rally ran from 1329 to 1474, we have now broken down past the .382 retrace at ~1419.
Failed 5th wave at 1464?
Really no reason at this point that we shouldn't keep going here, all the way to 1400, point 24 on the 3PDH count.
FOMC would bounce us there for a wave 2 up?
Hi- used to follow you and luna on tickerforum. Now things are getting exciting! Here is an oddball one for you... your thoughts on prechter's megaphone multidecade top scenario on spx? What downside action would violate that? NP
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