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Strategies & Market Trends : Humble1 and Swing Trading Friends
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To: scoot1212 who wrote (28920)6/6/2018 9:47:08 PM
From: POKERSAM  Read Replies (1) of 41206
 
My target for the top was 2766. WHY? It was 61.8% retrace of the actual wave [1] which ended at 2593.
73% of the time wave two retraces wave one between 50 and 61.8%. 2766 also seemed to fit the waves pretty well. So that number was a high odds bet. We went beyond it by six points today.
Tomorrow will be interesting as will next week. Next week is OPEX week which is usually up. Not always but usually. I don't expect it to be up this time.
The usual bulls are all lathered up, snorting and euphoric. Nothing new about that. When were they not? There also seems to be a lot of confidence we will go higher among the rank and file. The fear and greed index which gives an almost up to the minute look at sentiment jumped from 58 to 65 today and is well into the greed zone.
money.cnn.com
So we will see how it goes. I have a completed wave count for wave [2]. We will see tomorrow if the market says that is enough. Wave [3] target is 453 points down from the end of [2]. With that much wave down to go there really should not be any hurry to bail out the door. Confirmation would be sweet right away. We will see.
As I say so often it is all about possibilities and probabilities. If you play the odds all of the time you will be right most of the time.
Best to you
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