This week, I start with a quick review of the larger picture off of the 3 year weekly chart. The S&P continues to progress along the path to complete either minute "b" of Minor 4 or minuet 1 of minute wave 3 of Minor 5. The market has been building with anticipation for Monday's Quarterly expiration. Much will be (hopefully) made clear after Monday's trade. I discuss in some detail both sides of these sequences. The choice at the moment is how far the market will correct next -- both counts suggest a high is either in or close - so it will be the anticipated correction that will fill in the blank of depth of the correction and the starting point for the next leg of the rally. I also bring in some seasonality as we move into the 4th quarter.
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.