3309 Drysdale Ct
Edwardsville, IL 62025
Amcap, your charts are insightful. The analysis I trust has wave
(A) up completed at 4100 on /ESZ22. We are now in wave (B) down,
and wave A down is in progress. Wave 4 of A has probably completed
today, and wave 5 is in progress. Your target with triangle C is my
target for wave 5 of A. I expect a push lower after the FOMC
meeting next week to reach that target during the week of the
My trading plan is to close a SPY put I opened today on Monday
or Tuesday when the squeeze on /ES is exhausted, and let the market
bounce into Wednesday, and to rebuy that SPY put into your target
for wave 5.
On a second thought, wave 4 may still be in progress and
today's drop is a minor b down to be followed by c up into FOMC. I
see a low-compression squeeze firing on 2-hour charts, and we lost
EMA(21) on the daily /ES March23. 3888 (1 ATR) is the next target
for me. Your target is near 2 ATR. Once the squeeze is completed,
it will be obvious whether wave 4 completed or not.
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