Intra-day trading notes, courtesy of Allan
Wednesday intraday update
Euphoria reigns, did you think being Short for a market crash would be easy?
Here are my most relevant charts:
On the left, the 120-minute SPX chart, in Buy mode. On the right, the Daily SPX, still in Sell mode.
I’m standing aside, waiting for short-term model to go Short again, or for Daily model to flip positive in order to even consider the Long side.
Wednesday intraday update – Part II
Just to keep some perspective, here is my 30-minute SPX chart, showing a well defined channel containing prices and today’s rally barely edging out the 25% Fibonacci retracement level from last week’s top, circa SPX 956.
Blue Wave’s Sell trigger for this time frame is currently at 904.82.
Translation – on a 30 minute chart, if the SPX goes to 904.82, Allan would go short.
