Charts to follow in a bit. At this point, I am **HIGHLY** doubting the bullish case, and am now leaning toward the P2 done option. Check back here in a bit.
Update 10:20
Check out the option charts below. The NDX is a *smidge* away from going below the Sept 25th low, but there is a *CLEAR* break on the Dow.
My $0.02. Do NOT ignore this technical break. Even if the count is somehow salvaged to be bullish (which I am not at all leaning toward) I think this suggests more weakness for the relative short term (maybe not today after the mornings big move) before there is a chance for a bull move up.
TO BE CLEAR: The chart below is my old options chart. Option 1 IS NO LONGER MY PREFERRED COUNT! I now lean toward the P2 ended count based on the move today in the DOW. OPTION 3 IS MY NEW PREFERRED COUNT
From E-T: Weekend Post – March 10, 2018
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There is a new post on my blog at this LINK. Cheers and enjoy the chart! E-T
6 years ago