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Let find the bearish count and I'm going to post another possibility.
This entire move lower has been after hours. Going to see what happens at the open.
Here's the link for UWTI's underlying security.
insert-text-here
I'm still here just trying to get my stuff in order.
So basically right now I'd like to see more more spike over 2100 from ES which should cause TVIX to make one more low. That'll be may sign for a TVIX entry.
I would love to see one more high from ES but not so sure we'll get it. This pullback, if it's already started will end somewhere between 2070 and 2000. I know that a large range but until I see the next micro move higher I can't be more specific. Anyway regardless where it ends the next move higher will be the 2140-2150 area we've been talking about for a while. That will be the next TVIX/UVXY play for me.
I'm not so sure I'm not off by one micro degree on my gold count. The move off the low just doesn't look like it should and the technicals are what tipped me off. Don't get me wrong, my overall larger count is right and I feel very confident about that. What I'm talking about is the last leg down and the fact it didn't make a new low. That changes everything and if it's not gonna make a new low than the move off the recent low shouldn't look like it does. Just saying to be on watch for one more final dip that makes a new low. That would really fit better but not necessary. If this really is this first retrace in the move higher it should hold 1160. We'll see, no matter what I believe this is going much higher and will eventually make a new 2015 high IMO. More to follow.
I do believe I nailed the bottom for gold. We should see another move higher today to finish the first wave higher. The retrace will be a load zone for a big push higher. This is part of the move I laid out over the weekend and I'm going to stick with the play until proven wrong.
Working on it, the roll over messed up my charts and all the labels moved. The channels are now in the middle of nowhere and frankly nothing lines up. Give me a sec and let me see what I come up with.
This is just part of the plan.
TVIX
I hope you guys remember what I said about metals and the miners.
Going to be looking at TVIX today.
Looks like gold and the miners put in a bottom after all.
Good morning EST, with the fed behind us it's time to start looking forward. Any thoughts on oil or gold?
KI, I don't know if I could make more money but I'm sure I could lose more. I'm happy, I enjoy what I do and the last thing I want to do is to do something that would mess up what I do. But thanks for the compliment, I appreciate it.
You know I should have my head examined.
Oil opens back up on a $2 gap,
CL go BOOOOMMMMMOOOMMMMM
I do see how you got the B wave and you would have been right if it were still correcting.
GOOG is currently in a 1st wave right now and more specifically a 1/5/5. The 613/615 high was the top of 3 and the low there under 500 was the bottom of 4. So at the moment it's working on the 5th wave higher but it's only in the process of printing the 1st wave of the 5 wave move higher. So it's the 1st wave of the 5th wave of a 5 wave move higher or 1/5/5.
It has typical of what went on across the entire industry. I'm under the impression that the miners and metals are about to stage a major reversal and what we've see over the last few weeks was what you'd expect to see right before a bottom. It might not happen tomorrow or there may not be a specific point in time where you can say "BAM That's It" but I bet ya before you know it traders are gonna be looking back and wishing they'd had bought the lows.
So any questions at all about metals or the miners?
So the stage is set for tomorrow's main event. Even with 'The Mouth" scheduled to make her appearance in less than 24 hours we should continue to see significant movement as the bulls and bears continue to battle for position.
Not sure if it'll close green but we have higher to go before lower IMO.
No, I'll be playing TVIX regardless what the fed says. She can say they're going to start using monopoly money for all I care. Looking for a entry in TVIX somewhere over 2090ES. If for some reason I don't think it's gonna make it I'll move in sooner but at this point the closer to 2100 the better.
Nice call on WLT
I've been trying to look higher with TVIX but damn you can only take so much. I have no reason to believe that tomorrow will be any different.
It would be nice it if there was a better way to play volitility that didn't involve the front month roll over premium. It makes it almost impossible to hold these plays longer than a few weeks at a time unless the markets are trending down the entire time.
Nothing
IMRS-Good looking chart there. MACD is coiled and ready.
ES gearing. Thinking we could see 2080 here in a hurry
I really wasn't trying to be funny, I'm mean that's a legit question. If you read something like that you'd expect to find that what they're talking about is higher.
Looking like a move up to $45 is next.
I'm still long UWTI