Quick Note: Based strictly upon mapping I'm looking for a
likely gap tomorrow and that happens to coincide with Monthly
Payrolls - more tonight.
EWT is quite subjective but they count as a 3 of 3 either
way that's the problem with just EWT.
That BOLD TRENDLINE is the KEY - today SPX closed below so bulls
would have to recover (like gapping above it). That
trendline was REJECTED today on a backtest after breaking while the
VIX made a slightly lower low. Onus remains on
bulls
I also circled in green a similar occurrence on the prior false
break - thus tomorrow's gap is KEY in my view. Coin toss so
your call.
Hope we get a pop 1st ! I'm long May, short Mar but I was much
shorter on the Mar and bailed after seeing the 5 waves down from
Matt... should have kept those but maybe we'll get a quick a-b-c up
1st for the pop...
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Posted by steve on 3rd of Mar 2022 at 05:28 pm
$SPX - Chart Link
Quick Note: Based strictly upon mapping I'm looking for a likely gap tomorrow and that happens to coincide with Monthly Payrolls - more tonight.
EWT is quite subjective but they count as a 3 of 3 either way that's the problem with just EWT.
That BOLD TRENDLINE is the KEY - today SPX closed below so bulls would have to recover (like gapping above it). That trendline was REJECTED today on a backtest after breaking while the VIX made a slightly lower low. Onus remains on bulls
I also circled in green a similar occurrence on the prior false break - thus tomorrow's gap is KEY in my view. Coin toss so your call.
Likely gap down ?
Posted by fredsaid on 3rd of Mar 2022 at 06:41 pm
Likely gap down ?
Pop & drop. Holding over
Posted by Orangeman on 3rd of Mar 2022 at 06:55 pm
Pop & drop. Holding over the weekend in the early days of a war is a little dicey.
I expect bounces to be sold.
One man's opinion.
Hope we get a pop
Posted by fredsaid on 3rd of Mar 2022 at 07:06 pm
Hope we get a pop 1st ! I'm long May, short Mar but I was much shorter on the Mar and bailed after seeing the 5 waves down from Matt... should have kept those but maybe we'll get a quick a-b-c up 1st for the pop...