so wave 4 is more or less over for SPX (wave 4 from brexit lows) when we hit 2156.
We should be building wave 1 of wave 5 now (which should be the longest wave and extended), we will see a pullback soon. Safe place to exit my 219 calls would be around SPX 2190s (~219.50 SPY i think?) will probably take my profits from that long and grab some weekly spy shorts (~ spy 218 or 217)
We also have bearish divergence building on AO (higher high on SPX, lower high on AO).
just a short pullback before we sky rocket to new ATHs. will re-evaluate where to long from after we hit 2190s.
We should be building wave 1 of wave 5 now (which should be the longest wave and extended), we will see a pullback soon. Safe place to exit my 219 calls would be around SPX 2190s (~219.50 SPY i think?) will probably take my profits from that long and grab some weekly spy shorts (~ spy 218 or 217)
We also have bearish divergence building on AO (higher high on SPX, lower high on AO).
just a short pullback before we sky rocket to new ATHs. will re-evaluate where to long from after we hit 2190s.