June 10 Intraday market outlook (UPDATES)

Above is the chart of the Dow at 11:00am PST. I have added the red lines under each "W" pattern so we can see what direction the market is taking for the next little while. The first Red line this morning under the "W" pattern showed a slant down, which was fulfilled as the first leg of the second "W" pattern formed. Now this second Red line does slightly slant up. So It looks like a short rally again was in the cards and is now fulfilled. We may form another 3rd "W" pattern from here so look for the direction of the slant to decide any trades. At this point there is no way to determine the direction in the last 2 hours of trading. But I am watching.

I did purchase more TZA Call Options this morning for October Expiration at a Strike Price of $9.00 for a price today of $1.68 each.

UPDATE: 11:45am PST
So the last prediction has manifested itself and the Dow Intraday is up 241 points at this moment. One thing I noticed today is how low the Volume is going into the last hour of trading. Caution, low Volume with price rising is very bearish. I won't get trapped buying stocks right now. I added a Put Option for a stock I will leave unnamed, because the price was right. It was for an October Expiration.


UPDATE 5:00pm PST
The Volume really picked up in the last hour today as did the high for the Dow. This may be the beginning of the rally I had predicted to Dow 10,500-10,600 a few weeks ago. However, this time, I will not try to make any money on this rise from the same things I did a few weeks ago, which was to buy TZA Puts. It is too risky to be betting on a Rally of the market.