here's the cycle time frames, we had a buy cycle on the 15 min
time frame on the open. The bullish view is a simple abc pullback,
The ATR did not brea on the 1/2 day, 120 min. We'll see if a lower
high is formed or if this was simply an abc pullback and we get one
more push higher
SPX follow up
Posted by matt on 17th of Feb 2021 at 09:43 am
$SPX - Chart Link- so far 50 point pullback from highs, larger than the last wave 4 which was 41 points
The higher lows of wave 4 are what is now important 3890
$VVIX - Chart Link- of course this went on early warning last week
Update: SPX follow up
Posted by matt on 17th of Feb 2021 at 09:57 am
$SPX - Chart Link- note 15 min chart, note the lower trendline pointed out by frtaylor below.
I labeled the decline an ABC for now
Update: Update: SPX follow up
Posted by matt on 17th of Feb 2021 at 10:26 am
$SPX - Chart Link- 5 min view lower high so far
$SPX - Chart Link- remember while price bounced off that trendline, it did break a symmetry 50 vs 41 points
just hit the .618 retrace
Posted by frtaylor on 17th of Feb 2021 at 10:28 am
just hit the .618 retrace from the low of the day to the high. Now is the time for a bounce if it's an abc.
long w/ a stop at
Posted by frtaylor on 17th of Feb 2021 at 10:10 am
long w/ a stop at the higher low. edit - stopped out. Looks like it's going to be choppy.
here's the cycle time frames,
Posted by matt on 17th of Feb 2021 at 09:52 am
here's the cycle time frames, we had a buy cycle on the 15 min time frame on the open. The bullish view is a simple abc pullback, The ATR did not brea on the 1/2 day, 120 min. We'll see if a lower high is formed or if this was simply an abc pullback and we get one more push higher
Once again 195 min cycle
Posted by cozz101 on 17th of Feb 2021 at 10:37 am
Once again 195 min cycle nails it!