Monday, June 4, 2012

Next Counter Trend Bounce

  • Looking for a bounce long SPX at wed(7 count) or Friday (9 count)... must have a reversal candle and I will go long... also we must not confirm under the 200MA... I thought we confirmed today however after close look we closed a tiny bit higher then yesterdays lows.
  • Dogi Candle Today 
  • Gap filled Today

    All comes down to Time Cycles and getting in at the right TIME, levels and price at this point are 2ndary to these mini cycles. Wait for that 7 or 9.. watch the price action and candles, look for churn.

  • Major support at 50Ma
  • coming into a 7 Count next week on Weekly.
  • Major support at pivot highs form December.
  • If you count from week 4/02/12 Weekly candle this week is a 9 which also leads me to believe bounce Next Week. 

II Am Holding a few KO PUTS (JULY ) picked up with breach of head and shoulders.

3 comments:

  1. u say we havent confirmed below 200 moving average? how do u conclude that?

    ReplyDelete
  2. We did not close under the lows of the break down candle

    ReplyDelete