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Well futures are already 2866, so they've effectively gapped past all the, island top, and divergences that were forming (wedge etc.) maybe this will fill the 289 Gap, and hit the 0.618 fib retracement and we can be done with this ripper of counter trend.....other wise I guess we are looking at new highs...I mean why not right?

I've had the same question.

New DVTS on 120 min

Posted by erikvik on 16th of Apr 2020 at 05:16 pm

I've had the same question.  Is it when the BPT MA dlx. turns green?  I understand the DVT stops, just not the entry trigger.

I've bought 276 and sold 280 and covered 276 today :) ... Perhaps best to sit the rest of the day out, I'm not smart enough to be right a fourth time.

I understand the theory, but what is the practice?  keeping the market rangebound?  is the theory that the market makers are predominantly option sellers, so they want no net movement?

spy has bounced off 276

Posted by erikvik on 16th of Apr 2020 at 12:55 pm

spy has bounced off 276 so many times, and there is such a void below...could get vicious on the down break.

Could anyone recommend where I

Posted by erikvik on 15th of Apr 2020 at 09:43 pm

Could anyone recommend where I can get the Delta of an option?  It is not calculated in IB brokers, nor on the Yahoo finance page (nice options sheets otherwise)



I have a suspicion 280

Posted by erikvik on 15th of Apr 2020 at 01:15 pm

I have a suspicion 280 is the target today on the SPY, would super frustrate the bears

very subtle triangle setting up

Posted by erikvik on 15th of Apr 2020 at 12:16 pm

very subtle triangle setting up on SPY 5 min..

Hi Matt, I see it

Posted by erikvik on 14th of Apr 2020 at 01:43 pm

Hi Matt, I see it is rare in the SPY systems, but there is the occasional 3rd entry.  Any chance the system is close to taking a third?  Additionally your comments on the strategy if we hit the .618 fib regardless. I know we can all expect a pullback, but the market has a habit of frustrating us...at the same time, I can't really see it going back to the prior highs in the near term.

rising wedges on gold and

Posted by erikvik on 14th of Apr 2020 at 01:20 pm

rising wedges on gold and silver, on the hourly charts.

add the USD.CAD symbol, and then just buy it, should take your CDN funds to do it.

I think I might have

Posted by erikvik on 13th of Apr 2020 at 03:22 pm

I think I might have to stop myself from day trading SPXU.  Matt is great at it but it will gap up or down each open, so no overnight holds, and then when I think it will go somewhere it will range for the afternoon. stopping me at each inflection point of the triangle.  Lol.  Anyone else have a stock that just seems to have your number?

Agree, and thank you for the idea.  Timing is always tricky though.  SLV first declined from $19.67 to $9.58 before taking off in 2008.  I guess it caught up in the declines.  One could say that this time as well, but that things are happening so much faster.  Normally corrective waves to retrace 50% of a huge crash are 8 weeks, this time we were two...so maybe we already had our crash in gold and silver.  Gold stocks did break out, maybe if they continue to lead, you are correct.

I do love gold as

Posted by erikvik on 9th of Apr 2020 at 02:48 pm

I do love gold as an asset, but if we have a crash resumption here, this could play out.  Overbought doji.

with the 50% retracement on

Posted by erikvik on 9th of Apr 2020 at 01:55 pm

with the 50% retracement on the daily, divergence all noted below, rising wedge, SPY system taking 2 entries (maybe a 3rd today I saw mentioned) sure seems time to be cautious.  Appreciate all the guidance and thoughts here.  Curious on thoughts of when gold, gold stocks might de-couple from the market.  Seems in prior crashes it went along (down) but then recovered quicker

Hi Matt, is the SPY

Posted by erikvik on 8th of Apr 2020 at 03:39 pm

Hi Matt, is the SPY system setting up for a second entry today? cheers.

SPY breakdown would take it

Posted by erikvik on 3rd of Apr 2020 at 12:08 pm

SPY breakdown would take it to 240 which would be a 50% retracement of the up-move.  Thoughts?

appears the lowest retest of the pattern would be around 1450.  I will note that Larry Williams keeps cycle projections on gold and predicted this bounce from the lows, and then shows a correction down into the summer roughly before re-continuing upward strongly into the year end.

will obviously resolve tomorrow. 

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