Chart from Columbia- thanks BinveHeres another VIEW OF THIS CURRENT LEG
Look at wave 1 and its relationship to wave 3, then wave 5
wave 1 was DOW 60 pts
wave 3 was down 95pts OR 60 x 1.618 = 97 pts
THUS wave 5 of THIS LEG should = 60 pts down from 1090 = 1030
got to 1044 so far at open
Jay
10 comments:
looks gap down
Looks like they want to touch 1100 also
Hey Reza,
I am looking to jump in VXX. I still think it may come down a bit more. Thoughts?
p.s. long FAZ. Most in CASH
I think tomorrow morning or afternoon short, then cover Thursday. If Friday market goes up, then short Friday close. If Friday is up, then market is bearish.
I am waiting for DRV to get cheaper
Original formula was go short when VIX is 33
QQQQ, short at 46.3
Jay - any initial EKG for tomm ?
Bottom is in. No way it's going to make a lower low in early June.
I'm making big money now with longs eatablished last week.
I just added more on Tuesday's little swoon dive.
If you get too fine trying to predict the ultimate bottom withhout watching the indicators you'll end up missing the bottom altogether and making tons of money.
Btw
Gold longs look fantastic!
AGAIN
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