06/11/13: long hedge, looking for visit to 1660-1670

Will try to update more often so it doesn't look like I'm picking and choosing.  A lot of large items occurring...trying to buy a property for one is taking quite some time so have made fewer updates since then.

SPX has been making some serious volatile action.  Perfect for day traders, a bit more complicated for swing traders.

Currently I believe the ramp from 1598 to 1642 is a wave A.  Then the trip from 1648 to 1622 is a wave B expanded flat.  We are currently in a wave C of this corrective move up.  If A=C, and A was 44 points, then 44+ 1622 is approximately 1666.

Let's say we made wave A 1598 to 1648.  This is +50 points.  Then the trip from 1648 to 1622 is wave B then wave C is estimated to be 1622+50 = 1672.

The CCIs on the smaller timeframes are getting squeezed at the bottom, it's ripe to ramp again.  Therefore, I am expecting a large move up tomorrow into 6/13.

However, according to the medium term cycles, the next move up (if it should end somewhere in 1660-1670), should really terminate this leg.

I am still holding some shorts but am hedged with this long position for the ramp for next couple days.  After that I am prepared to build that short position a lot more to take advantage of what I think is the C wave of intermediate wave iv.  It's going to get interesting.