Inverted head and shoulders on the SPX?

OK.....just sold new rotation up at 767.50 (put on additional positions at this level) and then at 769.00 as we are working our way to neutral. First targets now at 766.00 and then at 763.00.....next targets below are set at 759.00 and then 755.00

 

Filled last level for me at 771.00 and have set targets now at 767.00 and then next at 764.00......below is still 759.00 and then 755.00

Last rotation put us where we are now going to sell off and get a decent pullback imo or about ready to break out for more then a "chipping" away to each new high rotations. Delta was almost neutral on last rotation up as the zone of 764-767's has been defended to this point as the range stretches out.

 

I am not 100% sure what you are saying... however I think we may agree.

Market is at a pivotal point here. Breakout to 800+ or get a decent retrace of this 5 day upmove.

I vote for retrace.... and the best way to vote is by trading.

 

what's your retracement target on the S&P 500?

 

739 then 720 (~50%)

 

Can someone who is using IRT please post their cumulative delta volume for today? (Preferably today since I already have my chart loaded but any day will work)

 

Sold additional positions at 771.00 here.....moved first target to 768.00 and next target to 765.00, all other targets remain.

 

Very nice trading!

I caught a few on the way down, I am not as patient.

surdo

 

THNX......targets filled at 768.00 and 765.00 now. Next at 759.00 and 755.00......last bunker with last bullets hold the overly stretched out delta zone for the sellers.

I am only holding 769.00 and 771.00 entries at this point.....all other positions were just covered. At any fill of 759.00 target, I will have last 33% of 769.00 entries still on and 66% of 771.00 entries. If there is additional selling hitting fills at 755.00, I will be flat on my 769.00 entries and I will still be holding 66% of 771.00 entries.....I have place the next target for these positions at 751.00

I will hold these positions into the AH session and tomorrows trading if we do not trade back to the highs prior to the close. Also, I am taking my kids on spring break vacation this evening so I will not be around to post much this week.....good fortunes to all!

 

I don't know exactly how you do it, but it's a pleasure to see you trade. Amazing really.

JW