prometheus
Member
Well, we finally got the Big Ben cross today, validating a completing Wave 4 of 5 down US$ scenario.
Still waiting for UUP hourlies to confirm the trend change, but, it looks to be only a matter of days before major damage is done to the greenback. Still, the short-term picture leans towards SPX 1177 getting retested tomorrow, given that PBR hasn't quite given the Buy cross yet, & needs to weaken to RSI < 33 before a bottom is really in.
While most of tomorrow will hurt, I trust Bernake's cronies to dull the pain with a nice ramp in the final hours of trading. Seeing big up days Mon 11/22 & Tue 11/23 to test SPX 1220, where I plan to go 100%G to finish off the month. Wed 11/24 will likely be flat to slightly down, with no one paying much attention into the Thanksgiving weekend. Wouldn't be surprised to see further backtesting into the beginning of Dec, as Birch is predicting as well, after which we see the true power of POMO catapult us through SPX 1250, towards a 1300 End of Year finale. In light of this, will likely be taking 20C,60S,20I by Fri 12/3.
Still waiting for UUP hourlies to confirm the trend change, but, it looks to be only a matter of days before major damage is done to the greenback. Still, the short-term picture leans towards SPX 1177 getting retested tomorrow, given that PBR hasn't quite given the Buy cross yet, & needs to weaken to RSI < 33 before a bottom is really in.
While most of tomorrow will hurt, I trust Bernake's cronies to dull the pain with a nice ramp in the final hours of trading. Seeing big up days Mon 11/22 & Tue 11/23 to test SPX 1220, where I plan to go 100%G to finish off the month. Wed 11/24 will likely be flat to slightly down, with no one paying much attention into the Thanksgiving weekend. Wouldn't be surprised to see further backtesting into the beginning of Dec, as Birch is predicting as well, after which we see the true power of POMO catapult us through SPX 1250, towards a 1300 End of Year finale. In light of this, will likely be taking 20C,60S,20I by Fri 12/3.