Value of Perfect Information

Looking to take long profits and initiate small (1/4 or 1/3 of typical position) short (at least in view of Mortie’s w4 caveat) to play what should be a downward correction of the almost vertical move of last week.

Time cycles suggest a price reversal sometime between EOD today and Noon tomorrow & it tentatively looks like today will close with both SPX and VIX in the green which has been a fairly reliable downward correction trigger in the past – moreover the 38.2 fib time projection of the March to June rally falls within this window.

Also, I’m seeing 90 & 120 min trend exhaustion signals that are past the setup zone and close to trigger and they don’t call it turnaround Tuesday for nothing.

Lastly – a pitchfork to place price action in channel-context.

Correction downside targets will be determined if/when the correction is confirmed.

[tags]Turnaround Tuesday, Boston Wealth Management, ES MiniS&P 500, SPX 500, SPY 500, Correction, Pitchfork, Time, Cycles, VIX [/tags]

Tags: Boston Wealth Management, Correction, Cycles, ES MiniS&P 500, Pitchfork, SPX 500, SPY 500, Time, Turnaround Tuesday, VIX

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