however I am not convinced this will turn lower - but everyone in the world is now expecting a break to the upside (and lets face it, probability wise it will most likely break).
Main reason for my ES short was the EURUSD movements that indicated a stalling in price which will ultimately always reflect back on SPX. The question remains if this is a short term stall before a move higher of short term stall to retrace some more first.
trust me I agree ... this looks like a very large 4th wave as we had been discussing with our old targets on the upside. And as mentioned probabilities are highest for a breakout on the upside (most likly an overnight gap above resistance for another stepping day)
FROM FLASH FUSION: FWIW: MKT: DOW tests 11/30 10.3K & pass' monthly test; SPX bearish revs. at 1137, 1151; bulls can accumulate as low as 12/1 open gap 37 minutes ago from web
looking for a short entry today.
ReplyDeleteshort EURUSD here ...
ReplyDeleteadded a lot of ES as well just before the drop
ReplyDeleteyou meant short?
ReplyDeleteyeah short ... by "a lot" I meant one chunk (not a lot as in quantity heh).
ReplyDeleteBoth positions are small - EURUSD x 6, ES x 2
however I am not convinced this will turn lower - but everyone in the world is now expecting a break to the upside (and lets face it, probability wise it will most likely break).
ReplyDeleteMain reason for my ES short was the EURUSD movements that indicated a stalling in price which will ultimately always reflect back on SPX. The question remains if this is a short term stall before a move higher of short term stall to retrace some more first.
Be carefull. I am getting out of short at 1106.5 and go long. major upthrust is coming: from a yet to proven wrong EW blogger ( not me)
ReplyDeletetrust me I agree ... this looks like a very large 4th wave as we had been discussing with our old targets on the upside. And as mentioned probabilities are highest for a breakout on the upside (most likly an overnight gap above resistance for another stepping day)
ReplyDeletehe is lookng for wave iii up from here or lowest 1106.8 spx cash
ReplyDeleteout of both positions. still a bit sick and rather get some sleep =)
ReplyDeleteFROM FLASH FUSION: FWIW:
ReplyDeleteMKT: DOW tests 11/30 10.3K & pass' monthly test; SPX bearish revs. at 1137, 1151; bulls can accumulate as low as 12/1 open gap
37 minutes ago from web