the chart posted is that of the spy it is nearing the end on the first leg down in a wave A and is taking the form of an abc decline into spiral f9 and a high due in the vix cycle 4/15/4/17 put calls have decline well into the cycle and now over bought conditions have as well . I look for a rally to at a min .382 up best of trades Wavetimer
Comment:
this morning I took profits again on the rally back up in qqq to 428 and spx 5052 I think it is a minor wave 4 rally .This forces me to exit and place a target on the downside in qqq now 421.5 to 420 and spx from 5004 to 4973 I will move back to the long side then and it will be a 100 % full long calls . watch for dxy to print 106.6 and 10 year to peak at same time I will NOT SHORT into the cycle bottom a better to position for the BIG RALLY the last pop in vix is going to be non confirmation signal on NEWS
Comment:
4/19 2024 1 pm update I have now moved back to a 90 % net long calls in spy dia jpm qqq I see this decline as wave A down or wave 1 the odds are at 95 % it will be wave A down we should see the sp rally back up to two targets first 5150 2nd is a NEW high into 5330 This would followed by a major wave C Crash the cycle should peak into june 6 2024 . the decline is a clear warning of what is coming in the cycles