Above is kind of the bigger picture of what I see is going to happening. We are in an ABC corrective structure that will take us to about 74.85 (my new revised target). Above is a bit of a close up of the end of the day. Looks like we formed an ascending wedge that will probably break down tomorrow.
This is probably the only time we are going to see a market like this in our lifetime. So lets make the best of the opportunity. I am going to concentrate on mainly trading the S&P 500 index using Elliott Waves and other TA. I will mainly be using puts and calls on SPY, but at times will trade SDS and SSO also. Do your own due diligence of course. Do not take any of my commentary and technical analysis as recommendations to purchase stocks or options. I do not currently trade the E-minis.
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