Classic institution dumping the bag, it would not surprise me if we reverse tomorrow but let's say I agree a possible low this Friday but again meaning wave 5 starts from the 21? Or just the rebound wave 2 if this wave 4. I have to say it's getting difficult to trade and read. Thank you again
Hi Michael, in the first 2 min you mention capital flow in and out of options. How can I keep track of all this? Also thank you for all your videos and knowledge you share!
@angelherrera5922 -- it is difficult to track this intraday unless you subscribe to Spot Gamma - which is the data provider that I use with the capital/options flow data. Once I switch to "Memberships" I will be including the data within the daily updates. That data btw gives levels that when broken usually will be triggering "risk on" or "risk off" trading.
Hi Michael. Would you please explore the possibility that we just got our wave 4 and we still need a 5 up? The market breadth says this market is way over sold plus AskSlim was looking for a low 12/20 with a cycle low not coming until late spring. It would be unwise to ignore this. Thx
@teagan3912 - Hi - I did take a look the daily and hourly charts to see what you are asking. I don't know the degree of the 4th wave, but it would be possible on the minute degree, on the minuette degree the 4th wave would be too big. The sell off yesterday was deep which is why I made the EW change I did -- Thursday's trade action thus far fits with the market being within a beginning moves down for the Intermediate wave 4.
What the hell was that today . I didn’t know what to do . I waited alll day to make a trade , and u joined the put party but for a small scalp . I sold at $2100 profits but if held would of printed like $15,000 profit
@nickgrace5363 - Hi Nick -- the decline spoke volumes as to the huge build up of Calls that were and still are set to expire on the 20th. It didn't take much to trigger the SPX and once it broke below 6000 it triggered "risk off" trading -- and that what we saw in big numbers was the markets beginning to unwind the huge call exposure. Spot Gammas models nailed the level and once broken the selling accelerated as it broke additional "gamma" levels below.
Options on top of options....leverage on top of leverage. How can't this end badly for everyone yet again? Wait for the full impulse down to form, then short the hell out of this.
@brentlorrilliere6057 - Hi Brent -- I hear you on this one -- it is amazing and the biggest change in how the markets are trading is the increase within options and of course the vast number of new trading vehicles -- such as ETFs and ODTEs.
Classic institution dumping the bag, it would not surprise me if we reverse tomorrow but let's say I agree a possible low this Friday but again meaning wave 5 starts from the 21? Or just the rebound wave 2 if this wave 4. I have to say it's getting difficult to trade and read. Thank you again
always look forward to Elliott breakdown, thank you, watch every video, your years of experience is invaluable
@rickmccrary-i4s - You are welcome and thank you!!
Hi Michael, in the first 2 min you mention capital flow in and out of options. How can I keep track of all this? Also thank you for all your videos and knowledge you share!
@angelherrera5922 -- it is difficult to track this intraday unless you subscribe to Spot Gamma - which is the data provider that I use with the capital/options flow data. Once I switch to "Memberships" I will be including the data within the daily updates. That data btw gives levels that when broken usually will be triggering "risk on" or "risk off" trading.
Today was awesome fireworks 🎇:)
@maomi_kyo - Yes it sure was fireworks that were for the most part were awesome moves.
Hi Michael. Would you please explore the possibility that we just got our wave 4 and we still need a 5 up? The market breadth says this market is way over sold plus AskSlim was looking for a low 12/20 with a cycle low not coming until late spring. It would be unwise to ignore this. Thx
@teagan3912 - Hi - I did take a look the daily and hourly charts to see what you are asking. I don't know the degree of the 4th wave, but it would be possible on the minute degree, on the minuette degree the 4th wave would be too big. The sell off yesterday was deep which is why I made the EW change I did -- Thursday's trade action thus far fits with the market being within a beginning moves down for the Intermediate wave 4.
What the hell was that today . I didn’t know what to do . I waited alll day to make a trade , and u joined the put party but for a small scalp . I sold at $2100 profits but if held would of printed like $15,000 profit
@nickgrace5363 - Hi Nick -- the decline spoke volumes as to the huge build up of Calls that were and still are set to expire on the 20th. It didn't take much to trigger the SPX and once it broke below 6000 it triggered "risk off" trading -- and that what we saw in big numbers was the markets beginning to unwind the huge call exposure. Spot Gammas models nailed the level and once broken the selling accelerated as it broke additional "gamma" levels below.
Done
Options on top of options....leverage on top of leverage. How can't this end badly for everyone yet again? Wait for the full impulse down to form, then short the hell out of this.
@brentlorrilliere6057 - Hi Brent -- I hear you on this one -- it is amazing and the biggest change in how the markets are trading is the increase within options and of course the vast number of new trading vehicles -- such as ETFs and ODTEs.
top is in