ET's Schizo all over the place here ............. SPY 1H approaching MY TRENDLINE begging begging begging me to let her cross to the United States
Dow Jones 1H the leader slides into the trendline break zone ... but here's the thing, its a C-wave after a B-wave, so thus far he ain't fooling me!!!!!
Murray, to bring you up to speed on this thread, its all about SPX & SPY to time their next big BEAR rally like the one from June 16 to Aug 17. Timeframe is Daily & 1H is used for entry/exit. Lower timeframes are ignored as they are too much work for me and too little reward but those who do trade 30-min., 15, 5, 1 and nonosecond timeframes they are welcome with pleasure to use this as a guide. Enjoy!!! No doubt I will get my ass kicked her and there as SPX ias no slouch and she ain't going to give up the goods to yours truly so easily!!
Sentiment: Speculators are far less bearish on SPX = Commercial Hedgers are increasing bets on Shorting SPX = contyrarian approach here ........... so the Hedgers fits in nuicely with my way of thinking = remain SHORT = Trend is down on Daily and 1H. Lower timeframes are ignored by yours truly. Commercial Hedgers info has a caveat it is 1 week old data ... but it has worked out quite nicely in the past. SHORT SPX & SPY continues to be the way for NOW
SPY 1H .... I will make adjustments to the wavecount later in the day or after the trading session for today. Right now at this moment in real time I have made no such adjustments and everything is as-is before Stay short as per TREND.