I never got a chance to post this up on Friday. This is what I'm seeing in terms of resistance on the S&P. As you can see, we're in the meat of the first resistance zone 911-927 SPX. After that its 970. Then the final zone that I'll be done scaling out of my longs and getting short at for the long-term is 1040-1070 SPX. Not as important, but for an estimate, it could be sometime in mid-January.
Interesting. It's almost a month to mid-January, which makes me wonder about the possible path you have in mind: Do you expect the market to retrace - and if so, how much - during this up move to 1040-1070 SPX? I make my living off the shorter moves in these longer term trends, hence my curiousity.
Great stuff. Uncanny accuracy, over a period of time, in both bullish and bearish cases. I will never go against your analysis, again. You considering doing some consultancy services?
All the money I make is in trading the futures for the shorter moves too... I just do the long-term trade thing with small size in ETF's for fun/practice for when I have a large enough account for it to matter. Anyway, the price action changes my opinion of the smaller structure of a move constantly. A potential route I see is this... that was a pretty strong reversal off the 920 area and I expect it to retrace at least to the 38% before breaking through
Well, I do it here for free, but B1S2 just doesn't want to listen... Pretty much that is how I see it. The hope for change will keep the uptrend alive until the inaguruation...
So no re-visiting the low 800s? With the daily ranges the ES is doing nowadays 1000 is barely 2-3 days away...
Yesterday was extremely tight range at 26.5 Breakout direction will have dominance over other things. top 919.25 bottom 892.75