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HOURLY Trades (for Futures markets)
While on vacation the S&P’s volatility
increased, which suggests wave-c may
be nearing an end. A drop below 1293
(cash) is required to end wave-c. As
the S&P moves further from the redsquared
“center” of this Triangle,
predictability will continue to increase.
Current STOP:
TARGET:
DAILY Trades (for Futures markets)
* Unchanged since last update *
Moving the end of wave-C back to a
point below the high of wave-D creates
a complex structure for wave-D that
cannot be deciphered. But, since price
action following wave-D’s low meets
NEoWave confirmation rules, I’m
comfortable ending wave-D at last
October’s low. Since wave-b takes less
time than wave-a, we must assume
wave-E will also be a Triangle.
Current STOP:
TARGET:
WEEKLY Trades (for the SPY ETF)
Recently, the S&P cash market
exceeded 2011’s high, which helped to
solidify certain structure and eliminate
other possibilities. This is good since it
suggests the S&P is well past the
center of the corrective rally that began
at 2009’s low. It is now just a matter of
time before we have the chance to
Short a major, multi-month decline.
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