SPX In Impulsive Correction; Lower Imminent!
Updated
Chart says all. Perfect Bear Wedge on 9/22. Look at the repeating pattern; 3 drives to the bottom IMO.
Not investing advice; trade at your own risk! GLTA!
Not investing advice; trade at your own risk! GLTA!
Trade active
Here we gooo... I shortedTrade active
Closed shorts on 5-wave intraday impulsive sell move; +30%; re-enter on retracement rally!Note
Re-entering on the 0.50 Fibo in QQQNote
It forms a bear flag retracement waveNote
Closed again on the secondary sell wave intraday. Two day trades on the bear moves; wait for EOD to re-enter IMONote
Forms a wedging pennant, trade is fluctuant and choppy, difficult to fill limit orders, go in/out at market IMO; could be a strong bounce mid-day, short if it does.Note
LOL it just kept going.... short the retrace IMONote
Would not chase this sell; it's formed an ABC intraday, wedging; might pop up strongly in PM sessionNote
Last time it did this we gapped down on 17 SepNote
LOL shoulda chased it!Note
IF support holds 3250 THEN the rally could kickoff from here...Note
Double bottomed; don't chase; holding nothing overnight, could rally from here on support, or dig deeper. Target on chart is pure WAG...
Note
Still holding cash, no longs until RSI gets OS on ES1!; NQ1! in OS now may dig a little more; any bounce will be temporary relief IMO:marketwatch.com/story/the-second-wave-of-a-rolling-bear-market-is-about-to-begin-says-top-forecaster-11600945948?mod=mw_latestnews
Note
Maybe a bear rally, W formation, might reject from 3300, no positionsTrade active
Closed the gap on DJI, SPX, close enough IMO: shorting EOD on the Hanging mAN
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