Seems like the Minor wave that started couple of weeks ago is now finished with the low at SP 1069 (4 points shy of the 1065 target). And now we've had the A at 1082 and working now on the B. Therefor if A=C and the low of B is at 1075, then the target for a corrective minute wave would be 1088 or exactly where the 50 day MA is at. However, considering the minor wave proper retracement, I would assume a C wave would take us above 1090 and all the way up to 1103. Therefore, the strategy should be to start going short at the 38.2% retracement mark with a stop at the 200 day MA at 1116.
I have not made any trades on my Elliott Wave Portfolio which currently has:
Portfolio 1:
SDS taken at 1125
FXI taken at 1090 as hedge, and which btw has actually gone up almost 1% (that's I love this ETF as an hedge)
Portfolio 2:
SDS sold at 1080; profit 45 points and waiting for the 38% retracement to buy back position.
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