If this is correct, wave 1 of C ended at Tuesday's low and we've been in a zig zag correction since, and currently in the final stages of that move. There's a lot of resistance in the SPX/ES 1090 area, and I suspect that's where we'll turn.
I'm looking for the 30 minute V Stoch to top in buy territory and roll over hopefully accompanied by a nice divergence in the 5 minute V Stoch. As of now (2:55 PM CST) that is shaping up quite nicely. Quite interestingly the Buy line on the Buy/Sell Vindicator has ticked down into the close and may be diverging against the highs.
Ouch - No margin calls for me since I trade only ETF's and pay cash for those. Remember we both mentioned we didn't trust the close yesterday, our hunches were right on. Anyways, I like your count since it is so different than every one else and we know when every one else thinks alike it doesn't happen. I'm still short.
ReplyDeleteWe'll see if I'm right - notice I'm still in cash and haven't yet put my money where my mouth is. However, I'll definitely move tomorrow if it shapes up as I suspect. Interesting financial headline tonight is Japan's Nikkei up 1.6% at open, yet ES futures remain flat to down.
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