MR
mreiserer
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this trade so far is a prime example of what your methodology is about as far as management goes. Just fantastic.
JI
jimkane
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Notice the habit in the last few weeks, too, of going into HC at key areas, instead of the nice, clean reversal with obvious potential triggers, and immediate action. Very challenging for the nerves.
JI
jimkane
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Posts: 33,089
Yes, as we approach the LOD, the GLOBEX low, the key TL, the ABCD here, they have to bounce it, or let it go. If they let it go there is nothing but air below. Note that the 'max pain' for SPY options that expire Friday is at 80, ES about 795 give or take.
JI
jimkane
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Also keep in mind if that rising wedge (Elliott ending diagonal) gives way, it would likely flush big time.
MR
mreiserer
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Posts: 2,220
well like I mentioned earlier I see it go down to the 750 in the near future...
there will be a lot of denial that it's just a correction until they realize...
there will be a lot of denial that it's just a correction until they realize...
JI
jimkane
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Posts: 33,089
I still wonder if we won't be going up until May/June, then down to a new low in Sept. Lots of timing factors suggest this, and the higher areas I posted in the commentary might be utilized. I'd prefer it drop from here, but it may only correct a bit, then up for another trap as the bears get demoralized and the bulls emboldened, then it goes. Just something to consider.