44 replies to this topic

[sixpack]

Building small udow position here

[tsharp]

So far, the orange Andrew's Fork top tine is holding:

 

[tsharp]

And this Wave-2 channel... though the longer price can remain up in this range, the better the odds seem it will push through upward... twt.

 

 

[tsharp]

Gap and go, or gap and crap for tomorrow?  Two charts suggesting one or the other...

 

 

Nominal 40-day projection hit on an intraday basis, though not on the close:

 

 

 

The 150% Wave-2 channel UTL was hit intraday, though rejected again:

 

 

[salam]

Well, I was forced to cover today with the cash breaking 3700.

 

I am 100% long Vix EtF and feeling tense a breach of 20, will lead to a gap close at 18

 

breach above could be a tear into the weekend, a sharp spike reversal, is hoped for.

 

Salam 

 

ps. Spiking long above 3675 was an easy buy. 5dma and should be bought next few days if we tear upwards 

Edited by salam, 08 December 2020 - 06:59 PM.

[tsharp]

With today's pullback in many indices, the W5000 has made another new ATH, so I suspect rotation is the play here, and the SPX will likely push through its overhead resistance yet this month... twt.

 

 

[salam]

Fantastic dip to buy, and improve my short position, now averaging 3705

 

however, an acceleration of selling, into the close and follow thru selling seals the December high 

Edited by salam, 09 December 2020 - 02:39 PM.

[tsharp]

No doubt, there's a possibility this could be the completion of Wave-b:Y:2, though I kinda lean towards not:

 

 

[salam]

Added short, 3675 2 point stop on this position. 

[tsharp]

SPX DAILY WAVE-2 CHANNEL & HURST CYCLES UPDATES

Yesterday I made the case for two scenarios, the second of which was for a gap-and-crap, when the SPX attempted again to push through the Wave-2 150% channel UTL, and that is what happened today, though thus far, it seems we may be looking at Sector Rotation, rather than a broad-based selloff...

The second chart is the SPX daily chart with my take on the smaller nominal Hurst cycles, showing a possible inflection point for the nominal 40-day cycle peak on or about 12.14.20, then the larger nominal 20-week cycle peak on or about 01.06.21, so this suggests an upward bias for a while longer, though these inflection points can also be secondary highs...

For now, there is still a #Hurst nominal 40-week projection above that's not yet fulfilled at the ~4008 range, so with a catalyst, the SPX could push back upward in an attempt to reach that target, until proven otherwise... watching.