NQ has been predictable on Tick and levels, a clear rejection
with mild overthrows to SELL.
Clear Supports to BUY, although they are truly supporting but
LEVELS to follow the Algos fill the next PO on Micros.
NQ has been wildly profitable for scalpers with strict discipline.
This is the 9th day of this pattern - it works for scalps.
______________________________________________________
Yesterday we had an early reversal, today appears to be nearly
identical.
Funds are shuffling the Big Blind and retail has gone full-tilt bearish
after Hey, It's Elon decided to become a fortune teller, with time on
his side.
Hard to argue the material points, can't help but wonder about the short
term ramifications as the potential for new Highs remain in the trade.
Even with the Trend Change, we've seen these before, and given the
level of control - up OR down needs confirmation - broadly speaking,
the VIX fails to perform - which may be a developing sign for the reversal
as it is being largely ignored.
With EPS ahead for Banks leading the charge and the FED late JAN, can't
place a Position until the New Year antics unfold.
The old adage - the first trading day of the year sets the tone... a great
many will be watching closely.
________________________________________________________
Crude oil remains range bound into the Year's end.
Many traders have disappeared from TV, interesting times.
________________________________________________________
3rd test of lows may be an issue and should not be trusted until
it proves out. No long there this go around. Watch and Sit back
to 100% CASH.
with mild overthrows to SELL.
Clear Supports to BUY, although they are truly supporting but
LEVELS to follow the Algos fill the next PO on Micros.
NQ has been wildly profitable for scalpers with strict discipline.
This is the 9th day of this pattern - it works for scalps.
______________________________________________________
Yesterday we had an early reversal, today appears to be nearly
identical.
Funds are shuffling the Big Blind and retail has gone full-tilt bearish
after Hey, It's Elon decided to become a fortune teller, with time on
his side.
Hard to argue the material points, can't help but wonder about the short
term ramifications as the potential for new Highs remain in the trade.
Even with the Trend Change, we've seen these before, and given the
level of control - up OR down needs confirmation - broadly speaking,
the VIX fails to perform - which may be a developing sign for the reversal
as it is being largely ignored.
With EPS ahead for Banks leading the charge and the FED late JAN, can't
place a Position until the New Year antics unfold.
The old adage - the first trading day of the year sets the tone... a great
many will be watching closely.
________________________________________________________
Crude oil remains range bound into the Year's end.
Many traders have disappeared from TV, interesting times.
________________________________________________________
3rd test of lows may be an issue and should not be trusted until
it proves out. No long there this go around. Watch and Sit back
to 100% CASH.
Comment:
The FED will be very active Monday.