S&P 500 IndexLong
Santa Clause is Coming to Town - End of Year Preview
We got more action than I thought we would today for sure, makes things more interesting. There's a lot of bottom signals I'm seeing right now. Probably best to wait a bit to see what happens in early Jan, but here's my thoughts moving forward.
Note
Thought I should update this after today, it's starting to look a lot more sketchy for bulls IMO. I was thinking everything was looking good for a Santa rally, but feeling more neutral now. This should be a pretty big pivot point so waiting for direction still.
Either way, ES failed to hold above 6,100 and SPY rejected 602.50. VX held the 16-15.80 area for now. Will be more comfortable with longs if those levels are broken, cautious until then. VX getting back above 16.80 would be my sell signal.
You reap what you sow.
Disclaimer:
The ideas I post do not always represent my positions and they are intended for educational purposes. Trading is risky! Most traders lose money.
Disclaimer:
The ideas I post do not always represent my positions and they are intended for educational purposes. Trading is risky! Most traders lose money.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.