Going into the 6/20 low we had both price and time to tell us there could be a big turn back to the upside. We played this with AMZN, CMG, ISRG, FFIV, NFLX and DECK calls all were closed with huge gains.
Where we are now is possibly the .382 portion of the pattern and that means if we take out Fridays low on Monday we could retrace until July 29th
Quick update on the bigger levels to watch for. We always want to confirm our thinking to the bigger charts. We use two higher time frames to see if we are at the bigger targets before trying to pick the top on the daily chart. Doing this will slow down the market and keep your thinking in the right direction so you are looking to buy support not short the highs.
Keep an eye on the .382 symmetry going forward on the NQ and TF. We would think the NQ would hold more than the TF as far as the minor waves because it is stronger than the TF.
Quick recap on the options we are in from the wwweminischool.wordpress.com blog.