SPX overlapped the first leg

    Posted by steve on 1st of Sep 2022 at 09:44 am

    SPX overlapped the first leg higher (3345.86) serving to negate an impulse off the lows 

    Currently the indices are deeply oversold (NYMO new yearly lows) so remain prudent and trail stops down on existing shorts.   The inverse ETF's have certainly provided excellent hedges. 

    But if the move off

    Posted by mirhamedali on 1st of Sep 2022 at 09:56 am

    But if the move off the lows was a leading diagonal then overlap between 4 and 1 are permitted. 

    Regardless the bears are clearly in control with lower lows and lower highs. 

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