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CURRENT MARKET TREND: Up 5/27/16 @ 2090
Stop-loss 2026

Tuesday, May 27, 2014

SP-500 Still Tracking Complex Correction

I have us in the 3rd wave of C of Y in a move higher that should be capped by 1921 on the upside. This 3rd wave we are currently in should find resistance into 1907/08. I will enter a first scale short at that area most likely, about 25% of capital.

The typical fib extensions of an irregular B wave run from 115-125 the A wave which would put this B in the area of 1910-1919 with the possibility it tags the 127.2 extension at 1921.

1 comment:

  1. hey Geno, I had the same outlook/target. SPX finished May right where we wanted but man it feels terrible. Come say hi sometime. http://hdivot618.blogspot.com/p/the-pit-chat.html next week should kick things off or we're early.