One More $SPX Update

Just updating the discussion from earlier.

We have yet to break the green parallel rails. Until we do, it remains possible that we’re still in one final 5-wave structure, like this (the blue 5-wave count leading to the red C):


I will keep my long puts (with duration), I am short futures (but I have moved my stop down so that it is in a risk-free position now), and I have taken some short-duration SPY calls because we may still head to 4000, and I would like to have something on in case we do.

Leave a Reply

Your email address will not be published. Required fields are marked *