Thanks,  mastermind.  Great points. 

Thanks for sharing your thoughts, Ed_M. 

Ed_M, it sounds like you may be more of a swing trader like me ( as opposed to a day trader). If you don’t mind me asking, since I am still developing my style, do you hold your longs and then buy more when they are lower as you described, or do you sell some long and buy shorts now. I am wondering if you swing between the two and have some in each camp at the same time.  Thanks.   I know each person has their own technique for risk management. 

Ok. Thanks. 

Thank you, Matt. That is exactly the conflict. I appreciate you understanding the dilemma. There is cognitive dissonance with the two charts.  I “knew” that we were likely to pop up today but help half of my SQQQ anyway because if I sold it, I could not buy it back again for two days in my IRA. And if I bought TQQQ yesterday, I could not sell it until. Monday. I will be glad when the new 1day settlement rules kick in  in May 28, I think.!

Thanks, mastermind. 

To clarify, I still own some SQQQ. I trimmed it yesterday, but have not sold all of that because I believe we still need to set a lower high because of the break in symmetry that has been discussed extensively. So, if we are in for another short bull run of at least 2 days, I can sell my SQQQs or buy some TQQQ to hedge short term, but I am expecting that we need to reverse lower due to the symmetry break. Thanks, and I apologize for being so needy, but I am still confused. 

Thank you, Steve. I have reviewed your posts. Sometimes I don’t understand your lingo. I don’t know exactly what run the recent highs means.   That’s not meant as a criticism but that the communication is not clear to me. So, we ran through the recent highs and tagged the 50 MA on the 2 hour chart below.  I see 5 waves to accomplish that. Are you suggesting that since we broke the pennant ( which was under lied in the newsletter, we should be in for more of a sustained bullish run?  I can not  day trade in my  IRA account, so I need to be willing to commit for 2days when I buy.  Thanks for clarifying. I am not trying to be difficult or insulting. Sometimes I just do not understand your meaning. 

I need some help interpreting these perhaps conflicting charts. What I see  is a clear breakout from the  pennant and then reaching the what I believe is a demand zone and turning back.  So because it broke out from the pennant, does it regroup and then keep going up?  QQQ hit the 61.8%. Fib, and SQQQ backtested its breakout. That would suggest that we could be heading back down. Could someone please help me straighten up this conflict? I easily look at too many side things and confuse myself. I will commit myself and say that the  preponderance of the evidence to me seems to be that we should be headed back down now, but my instincts are not very good. Thanks ahead of time for any insights or correction of my thinking.!

Do or die? Up up and away, or down in a big  C wave? What’s your vote?

Silver trying to back test the breakout?

My only skeptical comment would be regarding timing. I would expect the Fed to do what they need to, to keep the market propped up until the election in November. I realize that has nothing to do with TA, but it may affect the markets.  I recall brophy’s post about presidential election cycles. 

Extremely helpful charts. Thanks for the perspective and potential  scenarios, Matt.

Ok. Thanks. Sorry for the confusion. It was under my heading on the Community post, and I didn’t open the whole chain. I have been working. 

No, I haven’t blown up my plan. I have made almost 20k in profits the last two days. I have paid for this service for over ten years and followed it pretty closely, but you’re right, I struggle with developing a plan.  And you’re right , I tend to swing too hard and too fast, then react.  Also I am a swing trader, not a day trader, so interpreting day trade comments and trying to convert them to swing trade action is a bit difficult.  I am using IRA money and have to respect the 2 day restriction on selling. Per our DUST/GDX example, maybe I can learn to enter and exit in increments so that I have more flexibility in timing and can make more gradual shifts instead of too much all or nothing. I have learned a lot from you, but not enough, and I tend to trigger you when I ask a dumb question. Sorry for that. I’ll work on it. 

Thanks. That was helpful. 

Thanks.

My observations are that this is the C leg of a possible ABC reversion.  I believe that Gold  may be in a longer term bull market, so this may be the time to take some profits.  I don’t think that 5 legs are likely in this scenario, but I could be wrong. 

Speculating. 

Steve, Is it a good time to  sell DUST?