Taking some profits

That Bear Put Debit Spread which I wrote about a few days ago really worked out well. I bought the 2630/2610 spread for 4.15 and took my profits today at 8.00.

I am now watching two valid wave counts and the next few days will be very interesting. The bullish count is the triangle shown below which now should be in its final wave down before a big break to the upside.

The alternative wave count says that the big top is in and that the market now should accelerate to the downside.

For the triangle count to work, the market must not break below 2553 so that is the line in the sand for me.

Right now I am watching the market without having any swing trades on and just continuing to day trade!

Have a great day!

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