Cycle pivots over the next three weeks….
#1
Posted 23 June 2024 - 06:55 PM
Trade wisely but be mindful of changes in trend during this time frames.
#2
Posted 20 July 2024 - 01:12 PM
There was a minor cycle pivot on Friday, July which I overlooked because my focus was July 15/16th which turned out to be a HIGH, LOW was yesterday. Nothing noteworthy until August 6/7th, which happens to be a BIG cycle. If we are rallying into that time frame, probably a good idea to establish hedges, or go outright short.
For the record, I went long $UPRO @ 77.92 about 5 min. before the market closed yesterday. It's rare I hold anything overnight, much less the weekend but I am fairly confident we made a ST low on Friday.
As you all may know I fade the gap using $SPX calls/puts. I was able to fade-trade every day last week and my account was up +3.9% and the longest duration gap-fade trade lasted 7 minutes. A couple of these trades lasted less than 20 seconds and I was out.