S&P Updated Trade Plan

As most of my followers know, I like to keep things real... meaning I don't BS anyone and try to provide educational material in real time. As such, here is the chart that I left readers with last night. It includes most recent price action as well as my original trade plan that was discussed last evening.

As you can see, the thin ON session pushed price to the higher 2.0 RF resistance levels cited in this chart.  That's gone beyond a reasonable price level for what I would call a throw over in an ending diagonal pattern. However, that may not mean that my trade plan changes. here's why.

1. 1297.77 is also a Gann 90 degree resistance level that is in agreement with cited fibs.
2. The trade plan called for an actionable plan should price reach my levels in the ON session.


That plan called for confirming a turn in five waves!

Above is an updated chart through 9:09 a.m. est. detailing my updated wave count. This count is part of my trade plan and is only a possible attempt to describe the markets position in real time. w.(c) = 1.618 w.(a), where w.(b) is a running flat. The overall interpretation is still subject to confirmation of five waves down before the possibility of making any trading decisions. Obviously breaks above 1300.75 negate. 

Let's see how the day goes.

Best of Trading

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