Lots of follow-through produced by "lots" of triggers/signals. Both the NDX and SPX gapped lower on the openings basically crushing some initial support levels that need to hold to keep the upside trade in place and flowing. The breaks produced the expected result and that being an acceleration of the selling. On an Elliott Wave basis, the markets followed through to the downside and likely completed or nearly so 5 waves down off of the ATH's, which I am labeling minuet "a" waves of Minor 4th waves. If/when the ''a" waves are complete I'm looking for minuet "b" wave rallies. I lay out the Fib retracements on both markets based on wave 'a' completing at today's lows.
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.
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