Yesterday, I noted that we have just a little bit more downside — perhaps to 1865ES. Well, it turns out we tested resistance a few times at 1895 and then went down to 1871 — then we got a huge rally from 1871 to 1927 — that’s 56 points in just a few hours!
We initiated a trade this morning that is pretty much 90-95% max profit at the moment. We also initiated a second trade at the top off the market today around 3:15pm for a second trade — a small one that is going well so far and we expect to realize those gains tomorrow. So both trades initiated today are doing well.
Here was the chart from yesterday:
Here’s what happened intrday today:
The 5th wave selloff basically happened beginning at the market open (yellow C/4) – and then sold off til 10am – and then reversed from there on.