Nice rally overnight for US equities and precious metals. Too bad we didn't get a chance to trade it unless you get up earlier or live in Europe. In any case, I've updated the labeling - due to the rally knocking the diagonal(s) out of contention and I also discuss in both markets what the possibilities are for what actually completed at the overnight early morning highs - new ATH for the S&P 500. The markets are again close to a larger juncture where stronger downside correction would be expected, or we still have another leg up to finish this sequence. I also adjust Fibonacci levels and bring them into the current counts.
Disclaimer: Futures and Options trading has large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the futures ...
Disclaimer: Futures and Options trading has large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the futures and options markets. Don’t trade with money you can’t afford to lose. This is neither a solicitation nor an offer to Buy/Sell futures or options. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this web site. The past performance of any trading system or methodology is not necessarily indicative of future results.
CFTC Rule 4.41 – Hypothetical or simulated performance results have certain limitations. Unlike an actual performance record, simulated results do not represent actual trading. Also, since the trades have not been executed, the results may have under-or-over compensated for the impact, if any, of certain market factors, such as lack of liquidity. Simulated trading programs in general are also subject to the fact that they are designed with the benefit of hindsight. No representation is being made that any account will, or is likely to, achieve profit or losses similar to those shown.