Hello everyone! Today i want to share some technical analysis with you!
1.
To Subs: $S&P 500(.SPX)$
(1) the Red W-4 on the 30-min chart may NOT complete, which means the triangle will take a few more days to work out in this large chopping zone.
(2) by so doing, the turning window I marked in the newsletter may be the ending point of W-4, not W-5.
(3) patience.
2.
Panda Hammer landed 70+ pts in hours [the top of rebound is 5309; MPW hammer zone is 5300]. Now, after hitting 5234 support, the rebound complicates the picture. I am neutral now, with very tight stop at 5270-80. $Tesla Motors(TSLA)$ after hours will move market drastically. 20% position.
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3.
99% Cash & Wait for the Cat with HAMMER:
(1) Didn't watch market after exiting almost ALL short positions around 5140 zone yesterday.
(2) now, futures jump again--which is GREAT for bears to reload;
(3) I will watch 5228 with small bet;--if surpassed, then 5300 zone with HAMMER.
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