SPX Wave 4 playout
Updated
SPX currently in wave 4 from brexit lows.
2171~2172 region coincides with 50% fib of latest drop and will provide a fib extenion of 100% to 2148 region. 2148 region coincides with A-B-C down pattern from ATHs as well as a 38% Fib from wave 3 after brexit.
Shorting 2171 for 2147 and going long for final wave 5 up to 2270s.
2171~2172 region coincides with 50% fib of latest drop and will provide a fib extenion of 100% to 2148 region. 2148 region coincides with A-B-C down pattern from ATHs as well as a 38% Fib from wave 3 after brexit.
Shorting 2171 for 2147 and going long for final wave 5 up to 2270s.
Note
grabbed Sept 02 SPY 217 puts... woulda gotten in at 2171 but my broker decided to fail miserably, ended up buying in at 2169.5. -.-
Note
20 EMA still holding as resistancehourly hidden bearish divergence on stoch, higher high on stoch, lower high on SPY.
change of plans, will unload some at 2147, but won't grab a long until picture is clearer.
Note
closed 1/2 my puts to protect some profits. SEPT 02 217 PUTS in at 0.65 out at 1.15.coulda gotten out at 1.45 but was in meetings...
holding other 1/2 till end of day to see where we go from here, this bounce might be a slight pullback before moving lower towards 2147/2148
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