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I take some off the table here at touch of NkdVpoc - seems slow action, one min candles seem to take 5 minutes.
Approaching S1 based on classic pivot or dble bottom
While I was typing it bounced LoL
The Elliot Wave point of view from Coolbiz, who has once again changed from bull to bear as of Tuesday. Saying the market is a simple pennant formation and he is looking for a major breakdown.
This was an hour ago "SPX at 2646, below the pennant, needs to take 2621.30 Tuesday's low and after 2583, likely to do it and go much lower after."
Trades with cats wrote:The Elliot Wave point of view from Coolbiz, who has once again changed from bull to bear as of Tuesday. Saying the market is a simple pennant formation and he is looking for a major breakdown.
This was an hour ago "SPX at 2646, below the pennant, needs to take 2621.30 Tuesday's low and after 2583, likely to do it and go much lower after."
Saw his gloom doom tweet - Santa Rally 2018 canceled ?
Coolbiz swing trades 20 or more ES contracts. He commented several years ago that when he traded for a firm he was trading over a 100 contracts. Anyway, with that sort of size long term view is a day and he ALLWAYS has a stop on.
Traders Almanac says Santa Rally is the last five days of the year and they say to take a que from the December witching day buying the stuff that hit a low on options expiration. Theory being of course that the stuff was oversold for tax reasons.