On 12/11/18 took a put position the red arrow after seeing the 5 wave move down and took a put position, that paid off in 30 min or so.
This was an amazing experience to have identified a wave 2 although it would have been great if it had happened in real time, anyhow it is found and can be found again!
Below is a 15 min chart of $SPY on 12/6/18 . The market was plummeting like a rock per-market with news that the CFO of Huwei the Chinese phone maker the 3rd largest behind Apple and Samsung was arrested on charges of selling products to Iran in spite of sanctions by the US. Anyways, I think the news is a catalyst for already setup waves to progress and some how make sense. The bottom happened at wave 5 and I saw a impulse move of wave 1 and mistook the A move to be part of a ZigZag and placed a trade on the arrow mark thinking that will be the 2nd leg of a ZZ, but instead it turned out to be a wave 2 and then the wave 3 progressed after that and now in postmarket is a wave 4 , possible that the wave 5 would even terminate in the per-market.
It will be very interesting to see how the market reacts on Monday the 3rd. As of no Saturday the 1st President Trump is having dinner with President Xi of China. The stock market on Friday was in a holding pattern awaiting the result on Monday to react. But the Elliot wave analysis of the $SPY says that the market is going down. If you see the chart below the $SPY is coming to the end of the 5 th wave on an uptrend and by the way that is also the long term trend, as I believe we are on the 4th wave in the 5 wave and doing side ways correction for a while.
In the chart above you can see the dotted yellow line is the move that is expected to happen. Which means that the outcome of the G20 is already doomed! But that would mean that the cart is in front of the horse. Or that I am predicting future using the wave theory. It sort of feels good to predict future 🙂
Caterpillar Inc $CAT
As you can see in the naming AB =15 BC=
The Weekly chart is below AB=15, BC=7 it is coming to an end and the 30 min chart shows as the 5th wave just ending , so the next wave should be the corrective wave.