°¿°

[Myself °¿°]

Keeping in mind it's triple witching Friday...
I'm still looking at this XLF #msg-32751641 the only thing I would change or add to this post is;
• The top of wave 4 could look much like the beginning of July RSI(5)@50.
• It probably will not be worse this time re: [double RSI(14)=28] lets see if it marks the bottom of wave 5
and call a bottom like mid July.

On another OEX note:
• I have been quoting the round number of 350 for the bottom.
I have also been quoting the yellow falling trend line for the bottom of wave 3.
It appears 350 and the falling trend line will match today and still leaves me wondering if 5 will be truncated
or not....and 5 will be much lower.
• I've been seeing these 25-27 point drops daily...
So.. the close minus 25-27 points is about 340+/- if my falling trend line and 350 is breached today I WILL BE OUT of my put @340+/- on this fine triple witching Friday. I will be watching the big boys Dec option Volume.
• I'm not buying calls to play wave 4 with the I/V this high. I will wait for what I believe is the top of wave 4 near the bottom of wave 1 and I will reestablish a short position.
• Looking at the XLF [double RSI(14)=28] insists OEX wave 5 will not fail and will be lower than 3.

PS: up front on this chart:
I know for a fact oex hit 400 yesterday so I have know idea why this chart looks like it does.
I've tried backfilling it... nothing fixes it... maybe it will straighten itself out after the open.
for what it's worth


XLF trend perspective