Summary:
I think we're at the bottom of w5 and I plan on hitting it again with another long tomorrow for w2 up. Then I'm predicting a big w3 down next week.
Details:
Ouch! Got spanked today on a bull trap out of what I think (in hindsight) was a w4. But there's really no other way I can operate (that I'm aware of) given the trading constraints I operate under:
A) I'm a swing trader that trades off daily charts
B) I have to set my stops for the day, go to work, then see what happened end of day. Sometimes I can pop in and check out the market for lunch
C) I deal with future date predictions with +/- one day windows.
D) If I see a potential bottom in a turn window, I've got to go for it
When you have those turn windows, you have to set your stops tight and sometimes it WILL whipsaw on you. That's just the way it goes. But it won't whipsaw on every turn. I lost the money in w5 (down today) that I made on w3 (down a few days ago). Maybe I can make some up in w2 up (starting tomorrow) and I'll definitely make it up in w3 down (next week).
So, here's what I'm looking at:
This is one of the primary charts I've been looking at the shows short term cycles. It's been alternating since April. It could go double (another leg down), half time (a short flip), or continue alternation. I'm betting on continued alternation for at least one more leg. But if it's going to do that, it MUST go higher tomorrow. The next lines (possible turn windows) are between July 13-16 and between July 20-23.
The next chart is the Lindsay chart, which has had a stellar record since the big melt up. I've been debating which of the last two tops (July 6 or 13) were correct. I think the answer is they both are. I'm betting the one on the 13th is the top of w2 down
Next chart shows lunar conjunction with planets and moon phases. The next conjunction is on the 13th and the next one is on the 19th (one day from my 20th turn window)
Does the S&P tend to react when the moon is in Aries or the moon is 150 degree aspect from Pluto? Both were in aspect when the S&P was "born" on April 21, 1982. The next two Pluto aspects are on the 13th and the 19th (one day from my 20th turn window)
Good luck bears! Got me today, but I'll try again tomorrow. And I'm be looking to be a bear next week anyway...