Each bar represents a week. This past week begin with the bottom of the 5th wave when the markets opened Sunday night after the Paris attacks. I bought at 2005, but didn’t have the guts to hold in case it crashed more.
Hindsight is 2020 — wish I held on as I was expecting a bounce — certainly did to expect it to bounce this high though.
On this bounce, we can see what looks like a 5-wave pattern with this 2079 area being the 4th — and a potential 5th going even higher to 2090.
My initial guess was for a bounce to the 61.8% retracement level, which would have been around 2062, but clearly it bounce beyond that in what appears to be a high B-wave.
Initiated a Short 209 Nov 27 call / Buy 212.5 Dec4 call – planning for Futures to expire below 2085 by november 27 – in order to collect the $1500 in premium.