ES went all the way to 1983 and then bounced into the second blue circle higher than the first blue circle. I don’t expect this to go higher than the yellow danger zone.
I’ve increased my put position. On a daily time frame, it appears we are in the midst of a 3rd wave down — if tomorrow is not a down day, then I could be wrong and I will reduce my position.
Meanwhile, the short of TF (Russell) from 1197.5 is looking excellent – currently at 1108ish— so up around $9k on that.
Lastly, if you have an iPhone– check out my first podcast— search “trading 101”– you should see it there.
So we actually experienced an ending diagonal with the big jump to 2012 with a really small 5th wave a-b-c