Wednesday, December 5, 2018

December 5, 2018

Please explain to me why we are taking a day off from trading to celebrate the death of a Potus? Did I miss something or do those who matter already have a day to set aside for this occasion?

Sorry I have been awol a couple days just had a personal matter I had to tend to. I did finally take advantage and get into those Jan 252 puts I had talked about. You cannot convince me this is not going lower. There had been a measured move profit target that fell about 70 cents short on the SPX. I hadn't seen it until Monday night and forgot to mention it earlier yesterday when I posted the comment about how we had gotten into the 50/200dma pre-market. I believe once we get this low taken out yesterday and a dead cat bounce the immediate PT is around 2590 and of course the one below that into the 2520's. I don't know how to label any of it so no attempt at that but I can see us being in a 3rd or C wave off this last high. I am not going to step in front of it. Charts are Weekly SPX and the Daily RUT..and by the way the RUT had the death cross already so if it is leading the charge south....



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