24 replies to this topic

[alexnewbee]

Don't misunderstand, I am still short a bit, but probably will have to close it with small loss. Well, we will see.

[uburack]

stick a fork in it. IWM is burnt, tomorrow's opex will kill longs. It is all about weekly options, everything you need to know.

[blustar]

I think we see 2900 late Friday then a huge rally into FED day the 18th to new highs

[alexnewbee]

 

Today was the actual Gann 32 td top from July 26 which was a Gann 16/32 TD top. The top today was an irregular top, the actual orthodox top was Sept 5 as far as Elliott Wave is concerned. Sept 5 was the orthodox w of B top, A being the low on August 5.We are now in wave x and x of that wave which sub divides itself as an xyz bullish wave. Wave x was the xyz flat that launched into y today at 3000 spx cash. Now comes z of x of x which should fulfill the 3 Gap Play that is to fill the 3 gaps mentioned on my blog. These types of waves tend to overshoot the first gap known as the break away gap that is at 2888/89 SPX. That support should be around 2870. This market has become so bi- polar that it may be hard to determine the exact support on 9/12 but 2870 fits the average based on past gap fills.

There is is a common gap near 2848 that should get filled next week in the Gann 32 TD low near 9/19 after the expected irregular Y wave top on 9/18. This market is about to enter the Bermuda Triangle of trading. You can throw out your AD line and McClellan Oscillator which is overbought anyway. Listen to the Astro aspects, Gann cycles and Elliott Waves.

Next week is OPEX, so I really doubt there will be such wild swings.

Nevertheless I took a small short position @3014 - small cos it is a countertrend, short cos the spike is caused by our good friend's tweet, so actually it is a manipulation to sell into frightened shorts

Just MHO, and may be I am totally wrong

 

Covered @2990 for 24 points profit.

[uburack]

stick a fork in it. IWM is burnt, tomorrow's opex will kill longs. It is all about weekly options, everything you need to know.

 

closed a majority of shorts, will reload in the next few days, probably after this fri opex