Absolutely amazing ! 50-60 SPX point swings in a couple of hours both yesterday and today. In this market, either you are quick or dead. Timing is everything for the VST folks. I have developed so much distrust over this market over the last few weeks, that i don't trust both the up and downside. Just mindlessly playing the signals from my system, without having a real feel for the market.
As i said in my morning post, it's a battle between the daily and weekly at this point, which is still unresolved. Once it's resolved, a massive move is coming. Until then, smart traders, who don't paint themselves as bulls or bears have opportunity for some good money on both the sides.
P.S: After sometime, this kind of volatility can ruin a trader's bladder. Gosh, i can't even take a bathroom break
I CALL THIS A "ROCKETS AND ANVILS" DAY. IF Thursday does not trade below 1477 we wil have a down cycle failure, a rare event. If it does trade below 1477 Thursday then the market did trade lower than the previous cycle high on 8-02
LT d:^)
Larry,
What's the implication of the cycle failure in your work ?
If the cash index does not trade below 1477 Thur we have a failure. They are rare and usually followed by a solid string of accurate cycles. These weekly short term cycle failures are due to anamolies. This anamoly is created by the Matrix of central banks supporting our markets. We saw that Monday at 03:00 when German markets opened. I had woke up and was at the puter watching the futures trade, at the exact second German markets opened they went crazy. By 07:00 the futures were up 22 points from the overnight low. Having observed that this failure if it happens is not a concern. Starting around noon Thur cycle forces are positive into option exp. BTW, managed to net 6 points today...whew
Best,
Larry d:^)
