Small video about the near term price action into later January. In general, the small rally yesterday was perceived as bullish - SPX put call ratio dropped to 1.29 ycharts.com/indicato..._spx_put_call_ratio.
However, I believe the 5th and final wave of this sequence will be finished next week. January should be percieved as bullish again before the larger move down.
Good luck!
However, I believe the 5th and final wave of this sequence will be finished next week. January should be percieved as bullish again before the larger move down.
Good luck!
Commentaire:
fib area reached, taking a little profit here. They may bearflag here for a day
Commentaire:
under the fib, they may just slice through everything. Many are trapped.
Commentaire:
First wave may be done, fib line may get a bounce
Commentaire:
if this is a bear flag, 372 is the target and there will be minimal bounces
Commentaire:
spy already to 376, many are trapped and no bounces to get out...taking more profit
Commentaire:
Hourly bull divergences building here, It's a falling knife but I'm adding some long positions, very small.
Commentaire:
daily BB at 375, should find some support near there, we're 60 cents away
Commentaire:
possibly one more low tomorrow, not really sure if this is correct.
Commentaire:
looks like santa came already
Commentaire:
looks like a reversal on daily, but look at the daily ma cluster above....
Commentaire:
spinning top on spy, while it does look like a reversal, there's a potential that we are in an ending diagonal, so if tomorrow we sell more, I expect we could make a very choppy bottom before the main reversal. Just be cautious before going "all in". I'm sure many are thinking this is the bottom, I can't tell just yet.
