Some would say I missed this drop. I disagree. Per the stock market all gains made on the short side should be considered a bonus in my opinion. Also, I knew the drop was coming since I sold my long position. YOU DON'T HAVE TO PLAY EVERY SWING TO MAKE MONEY!!! You want to be on the longer term side of the swing!!
I believe these tops & drops are part of a consolidation pattern and I don't think we'll see new lows under 1329.
My next projection target comes around 1389.60 as long as 1329 holds. I am flat position wise and really don't plan on playing anything until my upside projection targets are met, or something on the short side triggers my interest. If anything happens you'll be the first to know!
POSITIONS: FLAT...NO LONGS EVER, maybe short under 1329.
Until next time,
PS WATCH HORIZONTAL WHITE AND UPTREND YELLOW