As annoying and frustrating as the market has been for me lately, it seems patience suddenly has become a very powerful and unattainable virtue. It is as if I forgot the meaning of the word. Patience is not easy but that is all I must rely on because I like my chart setups.
I really haven't been in the mood of posting daily for some weeks now because I'm after the big fish (SPX swingtrade target of 2238-2240) rather than the small fish (intraday/daytrade plays). It is for this reason I haven't been posting daytrade play targets. Once SPY (currently at 235.17) gets to my target of 223.55-223.25 I will start posting daytrades again. I'm only comfortable posting daytrades when I know clearly the big picture of the market. Though I see the market continuing lower, I want to see downside momentum first. That hasn't been the case yet. There is just too much chopping around at the moment with no clear direction yet. But that is going to change soon based on VIX-WEEKLY chart.
VIX-WEEKLY
SPX-MONTHLY II
SPX-MONTHLY I
SPX-WEEKLY
SPX-DAILY VI
SPX-DAILY V
SPX-DAILY IV
SPX-DAILY III
SPX-DAILY II
SPX-DAILY I
SPX-4HOUR
SPX-2HOUR
SPY-15MIN
