So far the market is following the analog structure. I am going to continue to trade around this market analog as long as it continues. It anticipates a high sometime this week, Monday at the latest. It then anticipates a sell off into the end of July, which is consistent with the longer term thesis for a back test of the November 2012 wave up.
Here is the current analog chart:
I have one long position from last Wednesday on. Here is Friday's Update Post. I am booking that position here. This is not a directional call. I hold these positions approximately 3 days. I was tempted here to hold this position longer, but am going to exercise discipline and take the position.
Here is the exit chart:
Wonderwood Positions since the May 22 Top
This recent trade netted approximately 1.92 SPY points (19.2 SPX points). Here is Friday's Update Post Again.
Accordingly, so far since the May 22 top (excluding the one remaining current long position) I have gone 7 out of 9 now. See Recent Summary 1. Both stops were less than 10 points and the trades were reentered shortly thereafter and were correct. I have not been leaning the wrong way at all since the top. The total SPY points (excluding the current position) from these short term positions is now (approximately 15.68 SPY Points/156.80 SPX points since the May 22 breakdown) trading in both directions. See also Prior Recent Summary 2.