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Mr. BachNut wrote:BachNut is done for the year.
The NYMO cycle appears to be down.
However, I do not have precedent for the NYMO action we have seen since the election.
This sawtoothing between the upper turn zone and the zero line every few days is not something I have seen.
What it implies for the time ahead is anybody's guess.
I know I don't have a clue in general, but my cluelessness is going to a new level here.
On the price side, things are a bit easier.
Previous punches through the upper keltner like we have seen have generally anticipated either
a) an important high, or
b) a period of trending (smooth or bumpy) that pulls the upper keltner steadily higher.
If we are to get (b), we should see a sequence of higher lows.
So, if Wednesday's low of SPX 2248.44 gets broken (or a subsequent low like it), caution is advisable.
Otherwise, a long bias (NYMO not withstanding) may be the way to go.
I am flat and have pretty much closed up shop for the holidays.
I have some long dollar positions that are in good shape and some long commodity positions that are hanging tough but could get the axe at any time.
Resting stops will take care of business from here.
Cheers everybody! Merry Christmas or whatever you do, blessings to all.
I hope you all enjoy the holidays, and I look forward to checking in here from time to time in the new year.
I think 2017 is going to be kick ass awesome for trading! Absolutely BachNutty!
Here’s another source for flow, but it should be in the bear-equity direction!Trades with cats wrote:As I asked a day or two ago what is the source of the money piling into the market?....
theoretically yes, but if there is still bull buying, and it is stronger than the contractual selling ... well you know... supply and demand...Trades with cats wrote:So Pasta Boss, weekly put options for Dec 30? I mean it should be a ripper based on that chart!
Zerohedge saying this is reason for selloff. Xi Dada sending clear message to Donald?flrtrader wrote:BREAKING: China's navy has seized an unmanned, underwater U.S. Navy vehicle in international waters of South China Sea.
Rut