If you look at this chart, it looks like the SPX is in the process of making a 1-2-3 high:
As I write this just after midnight US Central time, futures are drifting slightly higher. This is consistent with the 1-2-3 high formation.
If this is really forming, a good opportunity to short the market will happen in the next few trading days via a Trader’s Trick Entry. I’ll keep you posted.
If you are doing income option trades, PROTECT THE DOWNSIDE as this could be a sudden move down. Newer traders who haven’t experienced a fast market, BE CAREFUL!
Quick brain teaser… Who’s in the picture? Click on the picture to see.
{ 1 comment… read it below or add one }
Your 1-2-3 high completed on the hourly chart at the open on Thursday. (It’s even prettier on the RUT). It was followed by a Ross Hook and a textbook TTE at 631.50-ish at noon. A thing of beauty….. I’m trying to count my fantasy profits; what’s the value of a point on the e-mini RUT contract? ;->