SPXU 240 minute Trend Model
Below, the Elliott Wave projections for this move:
SPXU - EW projections
There are two ways to play these leveraged ETF's. First, you can simply trade off of their charts, being LONG when prices are above the trend line and SHORT when prices are below the trend line.
Alternatively, you can base trades on the underlying unleveraged index, i.e. SPX and simply trade the SPXU based on the SPX chart:
SPX 240 minute Trend Model
Disclaimer: There are many ways to skin a cat, but it is recommend that you declaw them first.
3 comments:
Allan - it's been a while. Can we have an update on how your "Biotechnology Basket" is doing?
Give, and it will be given to you. A good measure, pressed down, shaken together and running over, will be poured into your lap. For with the measure you use, it will be measured to you."
In many ways the market is simply a mirror--or a type of convergent evolution called by Darwinians: homoplasy.
E.g., you buy one share in the market, the market rents a room in your head.
It is not surprising, therefore, that above the Oracle's doorway Neo reads: temet nosce.
Whereas the market is unfathomable. But the self is knowable, but mostly in reflection.
The music of Alwyn
Allan, thank you for your superb generosity. May the universe respond in kind to you.
It is not always what you post, but how I am able to receive it that makes for useful trading tactics. So, I encourage you to continue in your idiosyncratic way of posting. I read you, and I also read you. Likewise it is useful as a trader to read oneself, prior to reading others or even the charts.
mirror, mirror . . .
http://www.wallstreetwindow.com/content/node/15819 a different perspective
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