Boeing update

Here's the back link to my prior post on Boeing Aerospace.  In short, the chart behaved pretty much as the model expected.  Here is the model from that post.  I saw wave 3 ending about $120.













 Below is actual to date with the current low being about $118.  If I were short BA right now I would cover.   Why?  Because I don't like that Adam's apple in the middle of the wave!!  That looks suspiciously like a triangle as in a-b-c.  If that's true then one possibility is shown in red which is that this could be an expanding wedge that leads to a lower low into wave 2.  In other words, it might have got ahead of itself on the down side.  Of course this model is far from being confirmed but again better safe than sorry.

I do have to wonder what other stocks will be doing if BA gets this kind of a boost.  Next BA earnings are not until Oct 21 according to Yahoo.  Maybe it will have a pre earnings run up and then sell the news?  Who knows.  Who knows if this will even play out.  But we have to be alert for this important fact: the bear market is NOT, NOT  NOT confirmed yet.  This is not the time for complacency!  I want to keep all of my TVIX gains!  I actually hope the market rally strongly for a week or 10 days so I can plow my current profits into TVIX for that 3rd wave.

Lots of mixed signals here.  MMM suggests a rapid reversal back down.  BA suggests the possibility for a super strong bounce.  Time will tell but don't let any of this take you by surprise.  We are in the witching hour right now, that place at the start of the trend change when the herd is greatly torn between greed and fear.