Professor’s Comments Updates 9/10/19

Posted by OMS  at September 10th, 2019

Today’s pullback in the Dow appears to be the small corrective wave b’ I talked about in the WSR. It is definitely NOT impulsive. So because of this, the Model will be closing out its position in DXDs within the next hour or so.

If this analysis is correct, the Dow should have one more final rally to about the 27,200-27,300 level before wave ‘c’ up of Wave 2 up completes and Wave 3 down begins.

The Model will look to re-establish its position in DXD at higher levels.

Also, the Model will be selling half of it position in SQQQ. The wave count in the NADAQ is not as clear as the Dow’s, but IF the Dow rallies, it’s likely the SQQQ will fall a bit from current levels.

The Model just sold its position in DXD for 25.84 and ½ of its position in SQQQ for 32.25.

The Model just sold its remaining shares of SQQQ for 32.48.

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The Hockey Stick Pattern
The Creation of Waves and Trends
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