Tuesday, September 13, 2016

9-13-16

I know 200ma had planned on putting his thoughts on a new post this past weekend, but he's busier than a one-armed paper hanger these days, so I'm throwing this up just to get a new thread started.
(If you happen on by here 200, please feel free to overwrite if the mood catches you.)

I think I may have posted this in an earlier thread, but we are still not anywhere near out of options for how this market may go.  At least we've got some volatility now, so that helps open up some day trades at least.  My personal feeling is that the break to the downside of the tight BB ride we had is most likely a fake-out and we'll rip to points further north soon enough, but whether that's the wave 3 blow-off top or the ending diagonal is anyone's guess.


(As a side-note, the third option could be done with wave (iii) and into (iv) as another possibility.)
Happy trading.