Very close to puking my bullish positions and reverting back to being a bear (although I hate to short at these levels, I'd probably wait for a break and rally) but this is possibly a wave 5 spike out.
If it is, then we'll see a big rally to over 6000.
Big attempts at this on now, largely weighted with deep OTM calls so they're cheap to lose.
Wave 5 would be about over now if this is correct.
Otherwise, I think we'll end up trading 5000. Would just be a matter of what path. I'd not short immediately, but I would bail on longs quickly.
If it is, then we'll see a big rally to over 6000.
Big attempts at this on now, largely weighted with deep OTM calls so they're cheap to lose.
Wave 5 would be about over now if this is correct.
Otherwise, I think we'll end up trading 5000. Would just be a matter of what path. I'd not short immediately, but I would bail on longs quickly.
Trade active
I have a bunch of lotto calls betting on a low made. Sized to go to zero, that's where they'll go if I have this wrong.
But major supports hit here.
Order cancelled
ABORT. Exiting into the rally. I thnk I have this terribly wrong.
We may be inside of a crash event to 3000 in SPX.
Read the full case with backlog of historic analysis/forecasts here: holeyprofitnewsletter.substack.com/p/the-case-for-3000-in-spx
Read the full case with backlog of historic analysis/forecasts here: holeyprofitnewsletter.substack.com/p/the-case-for-3000-in-spx
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
We may be inside of a crash event to 3000 in SPX.
Read the full case with backlog of historic analysis/forecasts here: holeyprofitnewsletter.substack.com/p/the-case-for-3000-in-spx
Read the full case with backlog of historic analysis/forecasts here: holeyprofitnewsletter.substack.com/p/the-case-for-3000-in-spx
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.