The stall at 125.58 seems unlikely to cap the rally begun in mid-July, so we’ll be looking for opportunities to get long ahead of the next thrust. There are several ways we can attempt this: 1) at the bottom of a corrective abc pattern; 2) with-the-trend via camouflage; 3) ‘mechanically’ on a pullback to p or p2. For now, let’s focus on the first approach, bidding for four Oct 17 123 calls if this vehicle should fall to within 0.10 of 122.35, the d target of a corrective pattern on the hourly chart. We can switch to tactic #2 if TLT forges higher without a retracement. Any pullback following a move marginally exceeding 124.42 could set up the trade, so stay tuned to the chat room for further guidance if this should occur. ______ UPDATE (August 20, 12:30 a.m.): Some subscribers evidently got long, but it was unclear in the chat room whether they used any of the tactics suggested above. If so, please let me know and I’ll establish a tracking position.
