The W4 won't make it down to a .382 retrace at this rate. More likely would be that W4 is a flat, and we find support on the lower daily Bollinger Band on Wednesday around 2862 SPX.
Then we can finish with W5 up to complete the ending-diagonal with a dive back to its origin at 2594.
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| SPX daily ending-diagonal |
19 comments:
Kevin re EB the alleged 'guru'...attached are two links...one for EB's current 2 hour chart and the other for his current 30 minute chart...the charts are radically different...which one is correct? how do you reconcile the different 'recommended' trades? one is remain short for a BIG plunge and the other is be ready to get long for a return to the high...please tell!
https://stockcharts.com/public/1957888/chartbook/617250676
https://stockcharts.com/public/1957888/chartbook/618034115
will email 'auto update versions of the charts to you and Christian...
shazam!
uvxy $39.95 + 32.29 (412.54%) in premarket
hedge on!
UVXY reverse split 1:5
http://www.proshares.com/news/proshares_announces_etf_share_splits_08292018.html
Reverse split on UVXY.
With this morning's spike, the decline since this past Friday's high is looking like an expanding wedge.
Chop chop chop hell, the bottom boundary is ~2862 late on Friday -- Sept opex. I'd like a long SPY entry there, please.
If we have a W5 still ahead for new highs, $UVXY should get gored one more time -- $20? Although at some point it should stop declining as we make new highs in $SPX, as it gets bought as a hedge.
Are there any must see destinations in NE Washington CG? Have you been to the Kettle Falls area? The wife and I might make a trip up to Montana in the near future, and was wondering if it's worth checking out NE WA while we're up there.
I'm a big fan of the Pasayten Wilderness, which is to the east but not as far as you are thinking. I've seen lynx, cougar, bears, etc up in there.
But NE WA Is very isolated from the population centers and hard to reach. I've somehow never even managed to visit the Grand Coulee Dam. We tried to get there on my move out here many years ago, but took a wrong turn out of Spokane late at night in the moving truck.
There is a small, isolated population of grizzly bears in the NE corner of WA, and I am told, rare herds of reindeer. I've never seen Lake Roosevelt, or any of the Columbia River east of US 97.
Thanks! It looks like the town of Twisp is only a few more hours, and probably well worth it.
Winthrop has a faux Western theme, but also good pizza and microbrew.
It's the gateway to the eastern Pasayten. And watch out for deer on the road!
Based on SP I think it is a kind of 'any time' from now on. There are variations, of course, but the latest is about mid-November. The fastest is today/this week.
I mean, the top. It'll take some time to gather momentum for a fall. I don't expect any real panic in the next half year.
some of you are aware of my ongoing study relative to NYAD and have seen my findings...although NYAD closed +340, it was actually bearish today...numbers can be deceiving...stay tuned!💥
corrective low---the hits keep comin'.
oh wait.
lol
cg, would love to see your 2862. that's a 1.5% pullback which is kind of been the average during this epic & historical bull market that still has a few years left. my margin finger is getting itchy :) only 2 weeks till earnings season
McHugh has a phi mate turn coming up.
I would be delighted to see it mark The Top.
as long as the fundamentals and leading econ indicators remain strong like they have been for the past 7-8 years and there really isn't much of a reason why the stock market would go down much more than 5-10%.
no doubt at some point down the road we'll get a top but based on the strength of this economy it isn't going to happen imo for another 3-4 years. we're in historic economic times thus a historic bull market.
vix still 50% higher than 52 week lows---lots of upside potential going forward. i still think we hit my 3000 y/e target way early. the only question now is how much higher will the s&p finish in '18? will it make it to 3100, 3200? ?????????
UVXY buy & SVXY sell - September 18, 2018
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