Here are intraday balances in the indices over the last 10 days. Small caps looking like they have a slight upside lead here.
Again, its day 11 of flat/slow range trading. Last time we traded in a range like this, we slipped lower to set a trap, then proceeded to rip the range to the upside.
If we do break higher, be aware of any negative divergences that set-up.
Picked up $PYPL calls here a little bit ago as as well.
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Funny pic
Grabbed some MEDP
$YY Sep $50 calls up nearly 100% from this mornings buy. thanks for the idea boss.
thoughts on $KBH here?
Buy time.
SCCO long consolidation. I’d like to see /HG break out of its range as well. I am long common stock from 25.95. Will probably add some Oct 27 calls this week.
Maybe a $TSLA weekly
went with the $230 this week .50, she tight
$DIS is such a tease
I wouldn’t touch it until it’s below $90 again.
That’s where i bot it last
Agreed. Looks like it’s been ready to pop and I’ve been watching my calls bleed for too long.
When did you buy them?
A major shift at OEW from one or two potential scenarios to a new third scenario that is LT bullish and more in line with OA’s viewpoint …
For the past several months we have been carrying two potential counts for the long term trend. The popular NYSE primary V, and the not so popular, if not unknown, SPX primary B count. In the past several weeks we have added a third count, which we detailed last week: the DOW primary III count. Actually the primary III count, quantitatively, also fits the SPX/NDX/NAZ/W5K. But does not fit the NYSE. The reason we suspect, also noted last week, is that the NYSE reflects more of a worldwide index, with its ADR’s, than a US index.
This week we are moving the DOW P3 count from an alternate to the 50/50 probability SPX/NYSE counts, and giving it an equal probability. This upgrades all three counts to a 33% probability. While all three counts continue to suggest higher prices ahead one in particular stands out.
The NYSE P5 count fits better with the foreign indices than with the US market. And it is possible that the P3 and P4 in 2015 and 2016 are actually Major 1 and Major 2 of Primary III. It is not this count.
The SPX P B count still looks good, but historically it does not fit. Since 1932 there was only one time that a B wave made new all time highs, and that was in 1980 and only by 1%. At this week’s high the SPX was nearly 3% above the 2015 all time high. It is not this count.
The DOW P3 count is relatively unknown in EW circles. But it fits quantitatively with the NDX/NAZ/SPX/W5K, and is supported by historically reliable technical indicators. It suggests Cycle wave [1] did not end in 2015, and it will not end with a NYSE P5 either. Cycle wave [1] will continue to unfold for a number of years, as Primary waves III, IV and V work their way higher. This is the count that makes the most sense. We caution, however, that the SPX needs to clear 2336 (1.618 x P A) before we will make this count the main count.
So currently the DOW Primary Wave III is in favor but needs to clear SPX 2336 for confirmation …
$DATA. Great timing.