in the US right now, unless you are "scalping" the market,
for whatever it will give you, which is honestly what most traders do.
chart and momentum breakouts, if/when they occur
are almost" mirage" like events,
that appear, and then just as quickly suddenly disappear.
ESH S+P had apparently achieved a 45 Degree Angle Chart breakout
just a few hours ago, reaching 2674.75 High,
Pattern is usually quite reliable at re-establishing ,
as traders note inflection point breakout.
BUT NOT IN THIS MARKET.
ESH is now trading back down near its breakout point,
giving up nearly all its overnight gain,
having to PROVE itself all over again, that any upside move was/is valid.
Traders are immediately taking price breakout rallies,
and shredding them., so that their validity.. is immediately challenged./ or simply invalidated.
As long as this continues to happen, over and over..
it becomes obvious that the BEAR is in almost complete control.
It will take a marked change in trader psychology to change that.
I keep hearing from traders who tell me the big year end rally is just around the corner.
They are convinced that it is going to happen.
I continue to suspect that while they are waiting for that rally to occur,
that markets could be setting themselves up,.. for yet another sharp decline.
12/13/18 545 AM