Aug 1, 2018

Update

I have overlooked one possible pattern. If we see a deeper pullback bellow the support zone 2770-2790 to around MA200 than B is over and C is running. I have small short position just in case:)
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12 comments:

  1. AnonymousAug 1, 2018, 7:31:00 PM

    thanks for the update. how about other market indicators? Can they confirm which scenario is more likely? I recall you mentioned before July that this is more preferred case and SPX would finish 4 years high soon?

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    1. KrasiAug 1, 2018, 10:02:00 PM

      Based only on indicators you can not predict with high confidence. So far it is the scenario from the weekend - just a pullback.
      Yes soon we will have 4 year cycle top, but this could be now or in a month or three months. This is long term and not a timing tool for a trade.

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    2. AnonymousAug 2, 2018, 1:35:00 AM

      Thanks Krasi for the update
      Looking at Russell 2000 (likely to make another minor low to complete a flat and from thereon make another high), KBW Banking Index (corrective rebound and to at least reach 111.5), it seems like SPX may be able to make a double top. Can you share some insight on how you prefer to trade this? congratulations for your new-born. KT Wong

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    3. AnonymousAug 2, 2018, 1:39:00 AM

      Also this so called final move in SPX is highly resembling its final moves in year 2000-just that ot was a failed double top. KT Wong

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    4. KrasiAug 2, 2018, 1:51:00 PM

      Small short and if the index moves with an impulse below MA50 on the bounce higher adding to the position. If it just stays there above support and MA50 doing nothing with the indicators resetting - close the position for a few dollars and waiting for one more high.... simple trading plan with low risk.
      I do not enter full position right away. The profitable trades are when you ride a move and not trying to nail the top/bottom.

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    5. AnonymousAug 3, 2018, 4:59:00 AM

      Thanks Krasi, it seems like another high is likely the case now. Regards KT Wong

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  2. AnonymousAug 2, 2018, 7:03:00 PM

    SPX so strong that the above scenarios seems not valid any more... Do you think we still have another wave down or this is some kind of wave iv. Thanks.

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    1. KrasiAug 3, 2018, 8:41:00 AM

      Not so fast we have impulse lower and a-b-c higher. The next move lower will show if it is only a pullback or B is over. My expectation is that this is only a pullback (yes wave iv) and one more high.

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    2. AnonymousAug 3, 2018, 4:36:00 PM

      from hourly chart, the recent a-b-c down seems wave iv pullback and we are heading another small wave 5 to reach previous high, i.e. 2545 on July 26?

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    3. KrasiAug 3, 2018, 5:58:00 PM

      The recent down move looks like an impulse not a-b-c.

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    4. AnonymousAug 3, 2018, 9:05:00 PM

      You can see SPX has already reached this small wave 5...

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  3. SergioAug 2, 2018, 8:22:00 PM

    Good day friends.

    S&p for new short term high and no new historic high terminate wave B of Krasi graphic.

    Object of wave C touch the móvil media of 100 weeks.

    Dax comple my idea... But are controlated... Imposible going yo 13200-13600.
    Dax abcxabc or abcde but not triangle... Finally object 11300, touch de móvil media of 200 weeks.

    Salutations from Spain... And good trading.

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