Enlarge any chart by clicking on it.

Unless otherwise specified, ALWAYS use the 15min chart to enter my recommended plays because
CONFIRMATION is a MUST. In other words, you need to see a 15min candlestick that CLOSES beyond
the entry point, then enter when it moves 10cents after the high/low of that candlestick.

Thursday, December 28, 2023

SPX

Bulls are tired. There is no upside momentum. The market is literally just crawling up. A significant pullback/drop of about 5% needs to take place for bulls to regain momentum (assuming they will). Folks are afraid to go long at this point after much a massive run up the past two months. I don't blame them!
At this point, looking for a bear play is the commonsense thing to do (whether it materializes or not), because there is a lot more risk going long than going short. But remember that “the markets can remain irrational longer than you can remain solvent.”

SPX-DAILY


SPX-240MIN


SPX-60MIN


SPY-15MIN
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