starting it off early with some thoughts for the weekend:

spx 60 and 15 - the big question for me is this - when did, or when will, Major [3] wave up for spx end? For the green count, it ended at 3338, and wave Major [4] is in progress, having given us wave W to 3214, a flat wave X to 3347 (flat because it took out the prior high and retraced more than 100% of W), and is now looking to Y to compete [4].

For the blue count, wave Major [3] is in progress, and has a variety of targets, but the nearest targets would have it ending soon, or at the high a couple of days ago. For me, the more graceful count for blue would give spx a marginal higher high early next week for wave (5) of 5 of [3]. It's a good time to be on your toes, as there is all sorts of negative divergence building up on the daily.

rat,

Cool work and analysis!

Al

Paper trading. Made some on ABBV long calls and on a long NVDA call.

Al :--))

spy 15 - so far we have spy down to .23 fib, then up to bigger .886 - .786 zone....needs 334.51 for a double 1.128 if it can get there today.....qqq meanwhile dropped and then ran up to 2 cents below the 1.27 at 231.00

gdx

nflx

rat,

Cool work.

Al

Paper trading. Overtraded today. a few losers, AAPL, ABBV, LRCX, long calls; one break even,GLD, long put, and one winner long, call on XLK.

Al

I see Al is having some fun....sweet!

here is spx. we have perfection for the wave count at the opening high, with a non confirmation from qqq. this is a key tell I have been looking for, and I consider this moment make or break for a potential end to Major [3] for spx. added dia, qqq, iwm 15....dia is a sweet setup for a short

rat,

Awesome work and analysis. I agree with you that $SPX might be ready for some down price action.

Al :--)

Paper trading. I am still looking at trying to find targets for opening moves by making use of ML sets based on PMO "line wiggles." This time I used the StockCharts "Market Movers" feature of StockCharts.com. I looked at the "Most Active" list for symbols that also appeared in the "% Up" and % Down" columns. I figured these might have small big-ask spreads. I paper traded Visa V, with a long call and it worked well. I found that V price formed a very nice Kane 4P at 0.236 fibo at yresterday's close. My CSCO puts did not do as well, and I exited with a loss. I probably got in the CSCO trade too late. That 0.618 fibo retrace from CSCO's previous morning mid gap might have been a good entry point for a long put.

Al :--))