Hello friends.
The price of the S&P500 has risen all the way to fair value. We have no trades on at the moment, but we would want to short it if the price can continue higher and complete the typical 1-1 extension for the ABC movement we are forecasting using Elliott Wave Theory. For now we will wait and see what happens.
The price of the S&P500 has risen all the way to fair value. We have no trades on at the moment, but we would want to short it if the price can continue higher and complete the typical 1-1 extension for the ABC movement we are forecasting using Elliott Wave Theory. For now we will wait and see what happens.
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We are actually going to average into shorts on the MES, scaling up to a maximum of 15 contracts (15 MES is equivalent to 1.5 ES)... We will short more heavily if the price continues to rise. The fair value has been nuked again, so we are liking the setup a lot.