Markets did a nice plunge again (early) and AGAIN another reversal and rally into close,, lets see which minister is the next to resign today LOL ! haha.....
Im still holding all shorts , more deep underwater gaah..... but overall no worries as long I see the patterns I see + SPY not breaking above 129.5 the head ,, but I would like to see SPX hold below 1280 and for now , we still do , so no worries shorting markets,
If I'm right a MAJOR plunge is to be expected,, WHEN THE RIGHT SHOULDER IS IN, which I think it is, then we should begin a major drop in markets.
All things looks good to me , dollar making inverted hs pattern = CHECK
VIX making inverted bottom pattern = CHECK
Markets making topping HS pattern = CHECK
Markets overbought short term = CHECK
Overall all looks good for a major plunge , in my book the most bearish days of this week as I indicated is WEDNESDAY(TODAY) and THURSDAY(Tomorrow)
Lets see what happends here , in case we breakout above 1280 and QQQ breaks new highs , then I would maybe take the loss and thats it , but I give it today and tomorrow according to my book and see what happends :-)
Have a nice day :-)
Looks like a bloody opening, this could be the start unless some major buying steps in before the opening
ReplyDeleteYup - today and tomorrow the most bearish days in my work.
ReplyDeleteGood call. It did require patience.
ReplyDeleteexcellent work....!
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