Yesterday on Monday, we locked in a $550 trade from last week – selling NUGT around 35.4 from entry at 29.
We also locked in another $500 from the IWM calls.
Here’s the NUGT chart:
Alert was sent at 1pm EST on May 8 – when NUGT was around $29 – exit was on May 15 – 1 week later – when NUGT was around 35.4.
The remaining half of IWM calls went down today, but we were able exit half and lock in $500 yesterday, in addition to the NUGT trade.
The expanding leading diagonal potential in the S&P going down (blue) was invalidated on Monday at the open as we rallied over 2400.
As long as 2395/2396 holds, expecting a coil overnight and an attempt ot move up to new highs tomorrow morning.
The daily chart from earlier shows us at support just below 1380.
Today, we went down towards 1383 once again in what could be the c-wave of a B wave down.
Given the rally from that point, the possibility of 1405 TF in Russell is possible in a (C) wave up.
While the entry looks spectacular so far, the exit point is a bit more difficult to pinpoint. It certainly wouldn’t hurt to lock in profits as we are nearing some resistance from here to 17.
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