Replies to post #305662 on SPDR S&P 500 (SPY)

[DowDeva]

I used to watch option volume and strikes very carefully. Not so much anymore, but still do occasionally. In fact I was providing entertainment for much the Fintwit community last year deciphering insider action with high option volume at certain strikes in relation to Trump tweets.

What really bothers me was that all the way back in November of 2019 there was this crazy volume and OI on the SPY both on puts and calls in guess what months? February and March.

I went trolling all over twitter, asking people/experts/pros 'What do you make of this? What do you think?' No one thought it was important - as did I - or could think of what it was.

So when Martin Armstrong posted in his blog in March or April of this year that the elite in Europe were called together for a conference in the fall in which they were told to trade all their stocks AND bonds for cash, i wasn't much surprised.

[Dr Jerry]

Dow Deva the primary wave count says this is wave c up of B up with top estimate of 287, came close enough

alternate wave count says this could be wave a up of B up with b down of B to follow, this would fit with your estimate that wave a up finished yesterday , b down of B is starting with target of 264, followed by wave c (up) of B up to 320 climax followed by a new crash Wave C down.

B waves have a propensity to form extended triangles laterally before taking the final plunge

I honestly think the alternative count is going to happen and will coincide with a resurgence of the virus once the market economy is opened back up sometime in May/June with devastating effects on the supply chain, manufacturing and ineffective bazooka reserves of the FED.

[fitzwell11]

Quite the upside target. Do you still have SPX $250 as your ultimate downside?