WallStScalper

Santa came early to town but hasn't reached the chimney top yet

INDEX:SPX   S&P 500 Index
2372 40 29
Several patterns and indicators on this chart tells me that the top of the monstrous move from the 1820ish swing low hasn't been meet ..... yet.
Rudolph still have some strength left to bring Santa all the way to the chimney top at around 2073ish where his nose will turn ...red.
I see the following patterns:
A green Gartley 5.0 pattern
A yellow Andrew pitchfork
A fib extension at 1.272 from 2019 swing high to 1820 swing low
On the indicator side I see the following:
A Trix / Fisher system (nmike & JR system) almost ready to role over... but not quit yet
A macd about to cross over and a histogram on 0.41 ....almost there...but not yet.
A Woodies CCI that's still green and still above +100

I'm neutral and in cash right now.
Time will tell.... as always
Safe trading ladies and gents             and a merry christmas for all traders out there!

@BLawrenceM

Music at work:
https://www.youtube.com/watch?v=1xOe4GRyebo
Inverse H&S at the top?
DOWI, Inverted Head & Shoulder
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Have now retraced 61.8 of the latest swing high and now witch at the same time was and 38,2 retrace (a normal wave 2 down retrace. BUT... It could also be setting up for an ABCD down...yellow dot/dashed lines on ES chart..... time will tell: http://gyazo.com/75595bb3d7f990cc0ba266ba3595bd07
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This is a possible game plan for the next week or 2: http://gyazo.com/20a1dd13a8de64cd57da3fb40d7eb137
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Latest charts on ES: http://gyazo.com/8f9c498697525203055da69f1374b1ee
and this; http://gyazo.com/79c9f30b01d5e01884ed8953c0b862fc
Due to only a 38,2 retrace I see a possible alt 4 and 5 could come in play. Not saying it will but keep an eye on the waves down. If only a 3 wave down or pennant during the trading day. It's probably an alt wave 4 and 5 in play.
+2 Reply
I can't tell if that MACD turned when Fisher went +6
+1 Reply
When they've sucked all the retail investors in at the top they will hit the sell button and scrape off 10-20 -50% and transfer the wealth from the many to the few...again. Black Swan event, probably. Russia? Cyber attack from somewhere? Israel hits Iran? Nuke accident..who knows..you can feel it coming. When?..can't see the future..but when you know the enemy is going to come over the ridge..you ready yourself....you have a plan to act fast...you don't know when, you just know they are coming. I'm dipping into puts while ready to short. If I miss more upside I'm not worried about it. The high flyers and the biotechs will get decimated, also the Energy companies that went public in the last 6 months that will unlock shares.
+1 Reply
So true..... so true - can not agree more. The worst thing about it - only few manage to resist or even speak up about it. Only the few know it's coming and this time I see blood in the streets. How greedy can U get and then still not be wise enough to leave something for people to maintain their life. It could be were serious this time. Change is gonna come. Let's hope for the best and fear the worst.
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Something special for you my wise friend: https://www.youtube.com/watch?v=8dOY4LG_jhk
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chartmojo PRO WallStScalper
Thank you my friend. Two of my favorite movies! I took the red pill long ago Now the question is how to trade whats coming. One can't stop the coming storm, but one can find shelter.
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