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SPX in EW 2 of Impulsive Shark DT after Island Top Reversal

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Up TL broken; DT in progress, Bear Rally = EW 2; Chart details suffice IMO; Shark Nenstar is in play, Tar 2498-2530;
Res Ipse Loquitur!

EW Projections are Estimates based on most common occurring Fibos;
This is NOT investment advice; trade at your own risk; GLTA!!

Ref: JJ Murphy, Fig 4.10A, p. 72 (TL Rejection) and EW Chapter Theory:
cdn.preterhuman.net/texts/unsorted2/Stock books 029/John J Murphy - Technical Analysis Of The Financial Markets.pdf

Ref: EW Leg common Fibos, ref chart: "Characteristics of Waves":
metatrader5.com/en/terminal/help/objects/elliott/elliott_theory

交易進行

Shorted IWM, QQQ, DIA, SPY on the gap up Tues 6/16.

註釋

Ferocious rally AH and another monster gap; could get to the .786 Fibo. Add if it does. In $10 bear spreads hedged against the weeklies.

註釋

Added to IWM pos and entered short on FB in the 26 Jun 237.5P; making a triple top with H&S on the right shoulder.

註釋

Closed half pos the reversal was so sharp taking profits!

交易進行

Traded for hours at the Fibo, easing off now... holding shorts tonight, these puts are hedged with weeklies spread at $10 below strike, sold the short legs for ~$1 with 3 days to expiration, premiums are high with VIX ~40. Could see another big pop in VIX imo.

註釋

2PM pop from forced liquidations was weak, suggesting the shorts are already covered; again there will be no support from bears looking to cover in a cascade IMO.

註釋

Rejecting from Fibo AH. Fill the chart!

交易進行

Opened at the Fibo and filled the gap; lifts back to Fibo; added to positions, now entered IWM short on R2K

註釋

Closed my short legs on the lift and entered lower strike shorts on Friday exp now $15 OTM on short legs, getting .45 - .55c on these shorties

手動結束交易

Took these out on the AM volatility, very wary of a short squeeze possibility; sell the rallies IMO

註釋

Yes, short squeezing the bears atm; expect modestly higher close as we saw in Asia and Europe.

手動結束交易

I closed the shorts early on anticipating a short squeeze see related post on RUT; sorry my updates lag, trade at your own risk, always!

交易進行

Re-entering small pos at higher strikes, rolled up in effect, on the midday lift.

註釋

Back in DIA IWM SPY QQQ in 02 Jul series, short the 19 Jun weeklies in $10 bear spreads. I do jump in and out of these, jockey for position, always watch for squeeze.

註釋

In effect I rolled up all strikes $2 closer to the money and pushed exp dates out a week to the 02 Jul holiday special exp date. This improves R/R; all pos are hedged with Friday's expirations between $8 -$10 OTM; if it sells sooner the spreads win, if it lifts on a squeeze the short legs defray drawdown. I got between 0.81 - .95c for the weekly shorties!

註釋

Trading just under the Fibo again. Watch for 2PM short squeeze when retail brokers force liquidations; watch for EOD squeeze with short covering and "Buy on Close" orders. Look to add to shorts at these junctures.

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Intraday it forms a pennant; continuation pattern for lower price.

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Added to positions with NQ over 10K again and SPX trading at 3133 just at or slightly above Fibo.

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NQ retreats from 10K.... RUT divergent; SPX volume diminished on this last lift, not many buyers left up here.

交易進行

INTRADAY BEAR FLAG BROKE @1400 EXACTLY!

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SHE BROKE SHE BROKE SHE BROKE! SELLITALLLL!!!

註釋

At 15:59 I bot 10 Jun 20 IWM 142 puts @$2.31. Pure gamble IMO; let's see if it tanks.

註釋

Futures sold off AH; MMs dumping shares before Thursday; IMO we got a correction going, the depth and severity TBD.

IF it forms ABC, 2800 is likely support.

If it's an impulsive move, the next move will extend from 1.272 - 1.618 depth of the first leg, defining the complete movement.

註釋

A Bullish Formation is apparent in the weekly chart; a Cup & Handle is present, the opening gap might well be the completion of the Handle. Will be closing all my shorts on the opening gap whatever it gives us.

Rather miss a short than be a pig at slaughterhouse!

手動結束交易

Made bank off these puts and took what was given. Going Long now on my Cup & Handle idea; bouncing from support IMO: GLTA!!

註釋

Clear C&H now and this market is NOT tanking off and NOT filling in this chart.

IMO will invalidate; waiting on clear direction. In cash atm; stay safe!

註釋

Yeah futurz pumping here we go again... IMO headed up to close the gap at 3330.

交易進行

Entered bear spreads in IWM/SPY/DIA/QQQ in July puts short the weeklies (short dailies in SPY). $10 spreads. Cautiously Bearish as the triangle pennant formation resolved to downside Friday 6/19.

交易進行

Shorted FB over $240 in the Jul 240 PUT, short weekly 227.5s.

註釋

Another bear flag rejected from 3120 on 6/22; maybe it's headed lower from here. Banked gains on FB.

註釋

Current administration more moronic and inept since BUchanan IMO ("I am the last President of these United States"):
marketwatch.com/story/dow-futures-knocked-around-monday-night-as-trump-trade-adviser-declares-china-trade-deal-over-2020-06-22?mod=home-page

註釋

Nice analysis and synopsis; author suggests lower highs pattern setup for an EW3; P/C ratio is <0.5 for 20 days, this is a contrarian bear signal:
marketwatch.com/story/stocks-are-heading-toward-a-bearish-pattern-this-move-could-turn-it-around-2020-06-22?mod=mw_quote_news

交易進行

Playing close the gap in weeklies on SPY/IWM/QQQ

註釋

Shorted FB as well in Jul 242.5P

交易進行

Traded out of the red on dailies playuing Fade Gap Game; rolled dailies into July ITM puts. Shorting dailies on drops against the long puts, creating bear spreads.

註釋

She sells!

手動結束交易

Took bank off the table it might sell more but its oversold IMO and there's a gap to fill; short the rallies!

交易進行

On EOD lift got back into bear spreads; much smaller pos. Expect some continuation selling Thurs; these are hedged.

註釋

In 10 Jul DIA 255P, SPY 305P, IWM 138.5P, QQQ 244P; hedged in $8 spreads on Friday dailies.
Six contracts per pos.

交易進行

Bear flag intraday near EOD; can gap either way IMO; watch last 5m closely: I hedged with a small 5 contract QQQ Bull spread, for insurance.

註釋

Adding 4 contracts each to the bear spreads; holding the calls in case!

註釋

All my long contracts are closing ITM; going for LOTD and a gap down in AM IMO

註釋

IN AH trade short covering pops the price. IMO we might get a cascade Thursday.

交易進行

Closed shorts going to bull spreads expect a bounce from oversold MFI

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Closed the bull spreads on reaction rally doubled my gains on the day; up 10% on puts and 10% on calls, pretty slick day trading IMO; it could sell again now, or bull Friday, who knows?! taking my chips off the crazy table.

Short the rallies IMO!

註釋

Entered a long-term GM bull spread in August $25 calls short the weeklies; sell weeklies every week until the $2 calls are paid for!

交易進行

Back in bull spreads on QQQ, SPY buying on a higher low intraday, in the Jul 2 305C short 310 Friday exp; 244C short 248s.

手動結束交易

Made it going down, up and up. Closed all but holding GM. Done day trading for Thursday, gain of 28% on at-risk positions, not bad for one day IMO.

Account is up 25% over past two weeks. Wish I could expect to annualize that return, lol , it's 625% annual!

Fear drains out of markets, might have one more sell wave left in it but we're getting higher lows again.

交易進行

Intraday bull flag rising wedge; shorting FB, SPY

註釋

Surprise! Calls had been well served! FB bearish but SPY turned- will it last? Bought a bull spread, now straddled in SPY, holding both sides. GLTA!

手動結束交易

This unlikely combination produced a nice opening gain, closed all out, watching. QQQ is little changed suggests to me bullishness may return soon... more MOMO lurking?

註釋

Resting on the lower TL at 3030. If it breaks here will cascade IMO... danger zone.

交易進行

I see inverted H&S intrday; resting on support at higher low; imo bear campaign may be easing off, see if it pops up off TL; took small pos in bull spreads on spy, qqq in 2 week contracts short expiring dailies, just 6 spreads each.

Looking at BTD on FB...

交易結束：達到停損點

Yeah small loss on this not turning here IMO holding nothin over weekend as Monday could be anything!

手動結束交易

On EOD Friday I bought 20 bear spreads on QQQ and SPY. Today they made money, I take what the markets give me; short legs earned more than the long legs lost! AMazing... prudent to sit in cash at this juncture IMO.

Light volume trading tends to lift and Tuesday could bull in a countertrend wave. Got yard work and errands to run; not watching this grind all day!
Cheers, GLTA!

交易進行

Back in it shorting this rally in DIA / QQQ / SPY / IWM bear spreads, long July atm puts, short 30 Junes in $3 spreads, getting >1$ for the short legs, has broken under rising TL and bearish IMO.

Not a big pos, could def bull more on Tues, will collect the short leg premiums if it does.

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SPY and DIA contracts moved ITM. Added 5 each to QQQ, IWM positions. Now short OTM dailies exp 30 Jun. Either collect Tues, or close if these move ITM.

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Added 5 each to DIA, SPY spreads, now in 15 spreads each index. Making a lovely bear flag IMO...

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Rolled up short legs covering $1 contracts for 0.18c; added to long legs in bear spreads now in 20 spreads each index short the 01/02 Jul dailies.

Drawdown on the long puts nearly entirely offset by gains on the shorties!

It is a falling wedge; should backtest the wedge TL IMO. Tar ~2960 +/- 20 pips

交易進行

Closed overnight positions for slight gains and reopened higher strikes in 10 July bear spreads.

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Has broken upside from falling wedge; expect a backtest in a day or two to give an inverted H&S pattern; buy it there IMO; presently short, intraday QQQ has formed H&S, DJI gave a shooting star Doji (returned to opening price).

註釋

MOMO gone wild LOL, all the action is in FAANGMs

交易結束：達到停損點

This idea appears to be invalid.

註釋

Another Exhaustion Gap?!? There seems to be no end of them... LOL!