Nothing went wrong. My calls are macro and seasonal as well as cyclical. In other words if the market is up it changes where we are in the cycle. If it is down it changes where we are in the cycle. If it is mid-move it changes where we are in the cycle. So far the low was made on July 6th. Look at the futures last night. When I say low I am looking at RTH. Having said that the move up today was fairly substantial. I am trading in the context of risk/reward and hence even though the calls have been good---the high call was late April/ early may, the low call July 6th----it is contextual. The previous poster explains these thoughts with regard to the market at present. There is nearly zero chance of it running away to the upside with today's market action but I reserve the right to go long for a short bounce. I am not short here though either as we are oversold. I will watch and wait. If you're interested I will be happy to updat tomorrow after the overnight and open of RTH. Good Luck!!!
Well the bottom did hit but actually July 5th in the futures market. The model continues to work. No need to chase the market and it doesn't look like a compelling bottom just a minor rise to correct the oversold condition for now. It still looks like a test of 980 is in the works but for now up we go.