Thanks Mup. Wait and see which one will turn out. Status. Both Long and Short positions. Scenario 1. Futures point to a higher open. Strategy 1. Close short position at open. Set stop for long position at the last low. Scenario 2. Futures point to a lower open. Strategy 2. Close long position. Set stop for short position at the last high.
Futures point to a higher open. Close short position at open, re-enter short again near 13700,1520,2830 when there is a lower low. Keep the long position for a while.
Certainly looks like some "sideways" action the next day or two before we resolve things . . . I have found your analysis to be most enjoyable. Thanks!
Thanks Landis Bulls have had 3 cracks of the whip at the Measured Move Flat target on the INDU as well, its rare they get 4
Who says the market players don't use EW You can see on the ES how Measured Moves act like magnets for traders to position around...
The bears are pushing their luck to the wire at the moment They need to keep it below that 78.6% (1514 area) retracement other wise were on the Alt Bull I , II, III count
Thanks Mup. Move target down to 13660, 1517, 2817 as Mup suggested. Status: Miss one profitable shorting opportunity of 90,10,25 points profit at the "Mm&m" pattern confirmation sell signals. But avoid five false sell signals. Bulls also see Bull Trap at open. Plan to sell short above today high as close to target as possible when there is a lower low and set stop at the last high. Plan to close long position when the Market fall below today high again. because wave .i,.ii,.iii,.iv,.v down might have been complete with wave .v shorter than expected. A support trendline may be helpful here to confirm the sell signal. Let's wait and see if the last buy signal is the Bull Trap or the last sell signal is a Bear Trap.