Markets have gone on a tear plowing through every target thrown at it. Markets never cease to humble the most steadfast traders. I can't imagine all the shorts getting creamed in this massive runup.
Don't give up. Learn from your mistakes. Fail and fail a lot but learn from those mistakes.
I am switching to posting UPRO and SPXU charts. It is much easier to chart expected targets after gaps form. They also give me a better idea on the CCI charts.
The next timing window is at the open 7/15 so I opened a long UPRO at the start of the last hour. To my delight, SPX popped huge relatively speaking at the start of the hour. Is it possible that I am reading the right cycle? How did it start the moment I put on a trade? Anyway, the disappointment is that UPRO ended only +0.03% while SPX finished +0.31%, WHAT THE HELL??? I guess that's the risk you take in participating in these levered instruments, but I am usually in them for very short amount of time.
Entry: standard size UPRO @ 71.26
Stop: UPRO @ 68.45 (setting this to below the start of the gap)
Next timing window: open @ 7/15 Monday
Next major window: morning @ 7/17 Wednesday (Bernanke semi-annual meeting)