Thanks for sharing Steve - am curious on why you considered the
huge gap in wave 3 of 5 - usually they say that kind of gap is the
hallmark of a wave 3 of 3 of either a big wave 3 or C
additionally the weekly candle ended as a bullish engulfing … so
is this part of you scaling into the shorts or a full
position
ALL valid points (however I have a triangle which only is found
in wave 4 or b) but let's see if we get a pullback next week
from this area for a trade - I put more credence on the technicals
(see all charts) than counts. I'm certainly not full
position - not my style but I put on a starter hedge
Thanks for sharing Steve -
SPX Views
Posted by anjali25 on 9th of Sep 2022 at 06:34 pm
Thanks for sharing Steve - am curious on why you considered the huge gap in wave 3 of 5 - usually they say that kind of gap is the hallmark of a wave 3 of 3 of either a big wave 3 or C
additionally the weekly candle ended as a bullish engulfing … so is this part of you scaling into the shorts or a full position
…. Would appreciate the education
ALL valid points (however I
Posted by steve on 9th of Sep 2022 at 06:46 pm
ALL valid points (however I have a triangle which only is found in wave 4 or b) but let's see if we get a pullback next week from this area for a trade - I put more credence on the technicals (see all charts) than counts. I'm certainly not full position - not my style but I put on a starter hedge
Thank you for sharing -
Posted by anjali25 on 9th of Sep 2022 at 06:49 pm
Thank you for sharing - am learning here and this was a way of cross-checking my work with the teacher …
I did sell my shorter term calls as well…. But still holding longs ….Like you say there will always be another trade ….. am learning 😃
CNBC parading a lot of folks calling for a 20% drop by mid Oct - Minerd / Burry - hence wondering if it is really so easy …
https://seekingalpha.com/news/3881440-scott-minerd-sees-stocks-falling-another-20-by-mid-october
seekingalpha.com
Scott Minerd sees stocks falling another 20% by mid-October | Seeking Alpha
High-profile investor Scott Minerd said Thursday that he expects stocks to fall another 20% by mid-October, citing a historical connection between price-to-earnings ratios for stocks...
Focus on YOUR PLAN -
Posted by steve on 9th of Sep 2022 at 06:50 pm
Focus on YOUR PLAN - not what's on TV