S+P Futures.. "Melt Up " Possibility
S+P Futures are working on a complex bottom formation above 3070,
that could ultimately cause a "melt up" above 3100.
The current move down from the all time high of 3097.50 on 11/7 is "corrective" to my eye
No surprise here here ....
that the current small pullback is being accumulated by bullish traders with an "urgency" to get in,
who want lower prices for an entry point.
Bearish traders who think we may be topping here
are failing to recognize the potential for a "melt up" in price
,.. at any moment.
This continues to be a market you do not want to short right now
Rather wait ! ,, until real support is busted.
Then go in ,..with all you got.
THE_UNWIND
11/8/19
NEW YORK
"
that could ultimately cause a "melt up" above 3100.
The current move down from the all time high of 3097.50 on 11/7 is "corrective" to my eye
No surprise here here ....
that the current small pullback is being accumulated by bullish traders with an "urgency" to get in,
who want lower prices for an entry point.
Bearish traders who think we may be topping here
are failing to recognize the potential for a "melt up" in price
,.. at any moment.
This continues to be a market you do not want to short right now
Rather wait ! ,, until real support is busted.
Then go in ,..with all you got.
THE_UNWIND
11/8/19
NEW YORK
"