An "ideal" bounce today to the 1510 level today for an head and shoulders formation but the market exceeded that level and put in another high. So in a sense we could say the bullish action negates the lower low from yesterday, specially now that the market is comfortably above the Trend Average again. However, the market looks like it could be putting in an expanding triangle aka megaphone top. They usually happen on the 5th wave or at market tops/bottoms, so there is a good probability the market did indeed top. At the micro count level there is a stand alone W3, so we'll see what the next bearish wave brings. If we get a corrective wave then it just means more upside but for now I am going with the top (the opinion side of me).
Also, given the bearish action in the HSI, I applied 100% of my hedge today in addition to the 20% I've already sold. Which basically, leaves me 60% long. I will add the totals later for the loss on the VXX hedge but for now I applied 1/3 VXX at 23.68 and 2/3 SPXU at 31.68.
Main S&P 500 Trends
Short Term Trend = Neutral
Medium Term Trend = Bullish
Long Term Trend = Bullish |
发表于 2013-2-6 00:11
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发表于 2013-2-6 00:15
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