12/22/24 Weekly Watchlist + NotesAMEX:SPY - Huge sell off across the board from FOMC news on Wednesday. SPY sold off down through previous Broadening Formation range reclaiming previous downside pivot just below 684. So with that in mind, we expand out of the BF below that pivotal low, or come back through range above it. With SPY currently setup to potentially go 3-2 daily, we look to see whether fridays high or low gets taken out. Being above the pivot at 684, we are looking to come back through that BF range and make new ATHs as of now. Of course this can all change depending on whether our W is green or red, but for now we are closer to making a daily HH than a LL. With Christmas being this week, the markets close 2 hours early on Tuesday, and re open on Thursday. Being a short week like this, we need to be extra cautious as there will be lower than normal volume, and simply less time for the weekly candle to form, so expectations on a large move this week as most seem to be predicting, may not happen for the prior reasons. Personally will not be trading Tuesday and possibly not at all this week if I don't see absolute A+ setups.
Watchlist:
Bullish:
NASDAQ:NVDA - Pot. 1-3-2U Daily to trigger failed 2D hammer week. Swept BF lows this past week. Looking to come back through range. This is a big name for the markets, so I expect that if the markets are recovering, this will lead the way or follow with it
NASDAQ:MU - 2-2U reversal potential daily to target gap fill from ER. We took out weekly BF mag on friday, hitting exhaustion levels after finally escaping the motherbar it was stuck in for the last 11 weeks. One side gets toasted, magnitude is hit for W and M. All the ingredients for a big recovery. Only issue is being stuck in last weeks range
NASDAQ:PLTR - potential 3-2D for a simultaneous weekly 2-1-2U trigger. Nuclear green on all TFs. Slight room to go to target ATH again, but mainly looking for the weekly inside up measured move, meaning if we go 2-1-2U, we can expect the same move up as we had in the week prior to last weeks inside bar week.
Cruise Lines: NYSE:CCL + NYSE:NCLH Weekly hammers. NYSE:RCL Not a clean weekly AS, but similar daily to other names in the industry.
Bearish:
NASDAQ:TSLA - 3-1 4Hr to trigger MoMo shooter Daily to trigger Shooter Weekly 2-2. Daily PMG to target from ATH Exhaustion. (Big green day for most names Friday, why was TSLA so bearish with such relative strength lately?)
NASDAQ:AVGO - Shooter 2U Day to trigger 2-2 shooter week. Huge gap up from earnings. Looking to attack the gap.
NYSE:KO - MoMo Shooter 2D day to trigger 2-1-2D week. Having issues making range lately, but daily BF is targeting lower still, and weekly 2-2d has yet to be negated. Inside week will confirm more downside to target our BF magnitudes on the D and W, or it will be negated by a 2U week. Simple plan here. Short under prev week low, exit if back above.
NYSE:UBER - MoMo shooter 2d Weekly to reconfirm M 2D and Q 2U going 3. Check Monthly for the BF. Wanna see continuation lower to Q mag at 54.84. No daily AS but 3-1 4HR. May be a slower mover on the list. Basing all my decisions on the weekly as the momo shooter should simply just trigger and work
QQQ
HAPPY HOLIDAYS! Stock Market Weekly Preview: Dec. 23rd 📊Stock Market Weekly Preview: Dec. 23rd
NASDAQ:QQQ AMEX:SPY AMEX:IWM
In this video, we’re talking about:
🔹Stock Market & Overall Forecast
🔹Lessons Learned this past week
🔹Technical Analysis: H5 & Williams CB
🔹Current Trades
P.S. I'm getting coal for XMAS because I lied about it being a short video. 😅
Let’s dive into this Holliday Week! 👇
Traders BEWARE! Extreme Volatility In 2025-26. LOOK OUT!I just completed a deep dive into my Adaptive Dynamic Learning modeling system, and I'm here to tell you that 2025 and most of 2026 will be highly volatile.
If you do not attempt to stay ahead of these market trends, you could suffer a loss of 35% to 45% (or more) over the next 18 months or more.
If you want to learn how to navigate these trends, I suggest you find someone you trust to help you identify the best opportunities for your investments and trading.
This is no joke.
This is the type of event that destroys trader's accounts and disrupts global economies.
If you are not prepared for this, get busy trying to find someone to help you.
Merry Christmas. Buckle up.
Get Some.
#trading #research #investing #tradingalgos #tradingsignals #cycles #fibonacci #elliotwave #modelingsystems #stocks #bitcoin #btcusd #cryptos #spy #es #nq #gold
Perhaps a 'Santa Rally' is just one step away to begin in 2024Stock markets often enjoy a seasonal share boost during the festive period.
It's been two unpredictable year for stock markets after gloomy 2022 but all we are, traders, investors, TradingViewers are hoping for a successful end-of-year boost in the form of a so-called Santa rally.
Shares have much wide, breather and better performance so far in 2024, amid trade and geopolitical tensions, high inflation and high interest rate.
So... while children are compiling their Christmas lists, traders also want some sweet candies.
Traditionally, festive cheer and holiday household spending make the markets more optimistic during the holiday season, boosting investor portfolios.
But will 2024 follow the trend?
The "Santa rally", a term coined in 1972 by Yale Hirsch, the founder of the Stock Trader’s Almanac, "describes a tendency for the stock market to go up by 1% to 2%" over final five trading days of the outgoing year and the first two of the new one, said Forbes Advisor .
This period has "historically" shown higher stock prices in the S&P 500 SP:SPX 79.2% of the time, says Investopedia .
What drives the Santa rally?
Reasons for the Santa rally are vary and one explanation is the cheery "end of year mood" that means investors are in more of a "buying temperament" rather than selling shares, which pushes up stock prices
Will there be a Santa rally this year?
Probably, Yes. September quarter capped off the best 12-months return (+36.36%) for S&P500 Index since the pandemic stock market recovery in 2020, so there are a lot of hopes that stars will align, and momentum in the markets, helped by declining U.S. interest rate, will push prices higher in the run-up to Christmas.
Sure, there is "no guarantee", though. Sometimes it happens. Sometimes it is not.
The odds of a Santa rally may be in your favor, but the "best option" (author's opinion) is to do nothing, remain invested and be "pleasantly surprised" by another strong month by the new year.
The main technical graph for S&P500 Index says that we right now.. already somewhere above to 6'000 points for SPX Index, and just one step to break it out to reach the next one half-a-mile, i.e. 6'500 points by the end of the year.
Just follow the major upside trend, that's been taken earlier this summer. And that is all.
Merry Christmas y'all, TradingViewers! See you in a Happy New 2025 Year! 💖💖
QQQ Trade AnalysisThis chart represents the daily timeframe for QQQ, showcasing a mix of technical indicators like pivot points (S1, S2, R1, etc.), exponential moving averages (EMAs), trendlines, dark pool levels, and volume. The chart indicates a recent pullback in a long-term uptrend, with price sitting near a key support zone.
Key Observations:
1. Trend Analysis:
Long-Term Trend:
The green ascending trendline suggests a consistent long-term bullish trend.
The price is still well above this trendline, indicating the broader trend remains intact.
Recent Pullback:
Price recently tested the R2 pivot (534.52), indicating an overbought condition, and has since pulled back.
It is now consolidating near the S1 pivot (490.80) and the 21 EMA, which are critical short-term support levels.
2. Support and Resistance:
Resistance Levels:
R1 (522.13) and R2 (534.52) are the immediate resistance zones. Price rejection at these levels confirms sellers’ presence.
R3 (553.45) is the long-term target if the bullish trend resumes.
Support Levels:
S1 (490.80): Current support level and pivot zone.
S2 (471.87): A deeper support zone near the green trendline, likely to act as a strong barrier.
Dark Pool Levels:
508.70 (recent activity) may serve as minor resistance.
496.39 and 480.70 indicate institutional interest zones that could provide support.
3. Volume Analysis:
Recent volume spike on the pullback indicates increased participation, potentially signaling a shift in momentum.
Red candles with high volume often signal distribution, but if price stabilizes near support, this could indicate accumulation by institutions.
4. Moving Averages:
Price has fallen below the 8 EMA, signaling short-term bearish momentum.
However, the 21 EMA near 490.80 acts as a critical level. A rebound from this area could indicate a resumption of the uptrend.
Trade Setup:
Scenario 1: Bullish Reversal from S1 (490.80)
Trigger: A bounce off the S1 pivot and reclaim of the 8 EMA (~508.70) would signal a bullish continuation.
Profit Targets:
508.70: Dark pool resistance and 8 EMA level.
522.13 (R1): Swing high and key resistance zone.
534.52 (R2): Longer-term resistance.
Stop-Loss: Below 486, as a break below this level would invalidate the bullish thesis.
Scenario 2: Bearish Breakdown Below S1 (490.80)
Trigger: A strong close below the S1 pivot with increasing volume would confirm bearish momentum.
Profit Targets:
480.70: Dark pool support.
471.87 (S2): Pivot support and intersection with the green trendline.
459.48 (S3): Deeper downside target.
Stop-Loss: Above 500, as this would indicate a reversal back above key support.
Scenario 3: Long-Term Reversal Near Trendline Support
If price continues lower, the green trendline near 471.87 offers a high-probability buying opportunity, especially if accompanied by lower volume on the decline.
Final Thoughts:
Short-Term Outlook: Consolidation near S1 (490.80) requires confirmation of direction. A breakout above the 8 EMA would favor bulls, while a breakdown below S1 opens the door for further downside.
Long-Term Outlook: The green trendline and dark pool levels suggest strong institutional support on deeper pullbacks, keeping the broader bullish trend intact.
Doubt Me If You Want, But My Strategy Speaks for Itself!NASDAQ:QQQ AMEX:SPY
Do you see how my Williams CB is one of the best strategies out there for predicting markets short & long term moves? How coupled with my H5 trading strategy it gives me the best chances to beat these crazy markets.
Two weeks ago we were at the top and called for a no more than 3% market pullback. I was wrong and right at the same time. We got a pullback but it wasn't what I anticipated but who anticipated the FED nuking the markets yesterday? Nobody but the FED.
I show you this so you understand when we get to the barrier we don't know what it's going to be that pulls the market back or causes us to consolidate and peel off the red barrier. BUT, we need to understand where we are at and that running into the barrier is not the time to be adding to trades or exploring new ones. It's the time to take profits, consolidate, and maybe hedge a little.
I'm not putting this out to be applauded or to act like I'm some type of Oracle. I simply want to show all my friends who have decided to stick it out with me the last few days when others chose to leave that you can entrust in my strategies and I will teach you everything I know so you can beat the markets on a consistent basis too!
SPY/QQQ Plan Your Trade Update : Big Rally Closing Out 2024Over the course of the past 6+ months, I've been sharing research and content to try to help traders all over the world learn to profit by making better decisions.
Some of the comments I've received have been very positive. But some of the comments I get are negative and some people have explained how they continue to lose money trading.
In my mind, if you are gambling with your trading account - you will likely lose money.
If you are actually trading (trying to book profits ASAP) and grow your account efficiently, you can make consistent money trading small amounts.
In order to try to illustrate this example of trading, I created a $1000 trading account and limited myself to only trading $333 (MAX) per day.
Here are the rules I set for myself...
-------------------------------------------------
Trading Plan
- Start with $1000 in capital
- Break that capital into 1/3 Daily limits
- Trade no more than 2-4 times a day
- Try to target 1-2 short term-trades and 1-2 intermediate-term trades each day
- Attempt to keep my losses limited (depending on market volatility)
- If I lose more than $300, I will stop trading and reevaluate what I’m doing right/wrong
The Daily Average Goal is 15-35% or more over a 30-day period of time.
I will try to execute the trades early in the morning and share the trades with Ment.com members.
I will attempt to pull the short-term trades off as early as possible (trying to lock in gains).
I will attempt to let the intermediate-term trades run a bit longer (possibly more than 1-2 days) in an effort to catch bigger price swings.
I will not attempt to chase market trends unless I see a very clear A-B-C type of price pattern.
-------------------------------------------------
After just five days of trading, my account is up over $45% and I've never risked more than $250 - $300 per day trading Options.
Anyone can do this - you just need the right tools and guidance.
You can DOUBLE your $1000 trading account every 20 to 30 days if you are diligent, consistent, and really learn to trade (not Gamble).
What is it going to take for you to learn how to trade efficiently?
I'm trying to show you HOW to do it and HOW to learn the skills to improve your life.
Get some.
#trading #research #investing #tradingalgos #tradingsignals #cycles #fibonacci #elliotwave #modelingsystems #stocks #bitcoin #btcusd #cryptos #spy #es #nq #gold
THIS IS A FAKE OUT IMO! BUY THE DIPNASDAQ:QQQ AMEX:SPY AMEX:IWM
THIS IS A FAKE OUT! BUY THE DIP 👇
-Strong Economic Fundamentals
-Hawkish FED spreading FUD
-Same Government shutdown scares every year
-2T+ in options (mostly call) expiring today
-Gains being pressured to be sold for 24 taxes
-Scare meme coin & gambler bro's out the markets
-Incoming party is for business & the stock market
-VIX spiked faster than Japanese trade crisis
-Inflation still coming down
-AI is still strong and a catalyst
-Company earnings are still hefty
-Global markets are curling up not down
All of these reasons explain my point of this being a FAKE OUT. I will be buying this DIP because I see nothing CONCRETE! All I see is that the market maker and FED Chair Powell teamed up to be the GRINCH & SCROOGE this Holiday season. Not financial advice.
SPY/QQQ Plan Your Trade For 12-20 : GAP PotentialToday's pattern suggests the SPY/QQQ will present an opening price gap (in this case lower) and likely attempt to find support near these deep lows.
I really want to point out how my Anomaly call, nearly 45+ days ago, really played out perfectly.
It is so difficult for me to try to explain what I do with my research and analysis - but ultimately I simply call what I see based on the data.
The last few days have prompted me to really push my efforts to continue to deliver superior research and analysis for my followers and subscribers.
Ultimately, it is about helping people learn to become more profitable and learn to wait for the best trade setups.
Gold & Silver are moving into a CRUSH pattern today. This could be a BIG MOVE for metals - and I believe the move will be to the upside. Don't get married to this move yet. The bottom is still setting up for metals.
Bitcoin is collapsing through the EPP pattern. The ultimate low setup could still be a move below $90k, so be prepared for more downward trending throughout the end of 2024.
Get some.
#trading #research #investing #tradingalgos #tradingsignals #cycles #fibonacci #elliotwave #modelingsystems #stocks #bitcoin #btcusd #cryptos #spy #es #nq #gold
IWM CORRECTIONAs we can see, there has been a correction since the presentation of the FOMC meeting, with a break in the bullish structure we had in the indices. IWM is one of the most bearish indices, breaking bullish structures in the 4-hour timeframe and losing strength in the daily timeframe. Although there hasn’t been a change in the daily timeframe yet, we are losing momentum and should recover the daily channel. In my view, it is the weakest index.
SPX 2025 Strategic Outlook 7150 points Wave Five Bull Market🔸Time to update the SPX outlook, this is 2D price chart, we are
currently entering overpriced zone and limited upside in SPX
going forward next few weeks correction / pullback.
🔸SPX price structure since 2023 is defined by a five wave impulse wave 3 completed already and currently we are in wave 4 pullback/correction until 5415 points. expecting wave four pullback to complete in January 2025.
🔸Wave 1 is 3600 to 4625, wave two 4625 to 4125, wave three 4125 to 6100,wave 4 pullback/correction now is 6100 to 5416, final bullish wave five is expected to start from 5415 to 7150 points (30% bull run). Wave 5 expected to start in January 2025 and complete sometime in Q4 2025. A/B/C 40% correction will follow as the market will enter extremely overbought zone.
🔸Recommended strategy position traders: wait for the wave 4 correction to complete at/near 5415 points in January 2025 and then BUY/HOLD into wave 5 final target is 7150 points in Q4 2025. Obviously, this is a longer BUY/HOLD trade setup and patience is required with this trade. good luck!
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RISK DISCLAIMER:
Trading Futures , Forex, CFDs and Stocks involves a risk of loss.
Please consider carefully if such trading is appropriate for you.
Past performance is not indicative of future results.
Always limit your leverage and use tight stop loss.
SPY/QQQ Plan Your Trade For 12-19 : Top PatternToday, we should expect the SPY/QQQ to move a bit higher - trying to form a short-term top before price rolls downward again.
I urge traders to stay very cautious of early trending and look for a bigger opportunity later in the day as price rolls downward.
Gold and Silver are struggling. I still believe Gold and Silver will rally higher as fear elevates. But right now - that is not happening.
I need to see Gold and Silver move away from this panic selling before I can become move convinced of a trend.
Stay cautious if you are trying to trade Gold and Silver right now.
Bitcoin is moving through an EPP pattern very cleanly - actually a DUAL EPP pattern.
$95-$99k should be the downside price target throughout this move.
Get some.
#trading #research #investing #tradingalgos #tradingsignals #cycles #fibonacci #elliotwave #modelingsystems #stocks #bitcoin #btcusd #cryptos #spy #es #nq #gold
AMD Best Level to BUY/HOLD 300% gains SWING TRADE🔸Hello traders, today let's review recent price chart for AMD.
Well defined swings in progress, expecting further downside before
the tide finally turns for AMD bulls. Currently it's recommended to stay out.
🔸AMD is trailing behind NVDA massively, so eventually AMD will to the
mean reversion trade and start to catch up with NVDA, however currently
pullback/correction mode in progress.
🔸Well defined swings - 160 to 58 65% correction, then 58 to 210 280% gains,
210 to 75 represents 65% correction, 75 to 290 is a 280% pump.
🔸Recommended strategy bulls: Bulls wait for correction to complete at/near 75 usd in January 2025 and get ready to BUY/HOLD low, this is a swing trade setup, so will take longer to hit target, patience required. final TP is 290 USD, 280% upside off the expected lows. good luck traders!
🎁Please hit the like button and
🎁Leave a comment to support our team!
RISK DISCLAIMER:
Trading Futures , Forex, CFDs and Stocks involves a risk of loss.
Please consider carefully if such trading is appropriate for you.
Past performance is not indicative of future results.
Always limit your leverage and use tight stop loss.
SPY/QQQ Plan Your Trade For 12-18 : Gap Up LowerPay attention to the SPDR Sectors and how they appear to be moving downward (potentially rolling into a topping pattern).
I believe the US markets may roll into a topping pattern before the January inauguration. President Biden could throw a bunch of curveballs at the US before he ends his term.
I urge traders to stay agile and protect assets. We'll have lots of time to deploy our capital after the Inauguration event.
With only a week before Christmas, I urge everyone to start trading much smaller positions and prepare for a very light trading week through Christmas.
Remember, the markets typically begin to move more aggressively after January 7-10.
Get some.
#trading #research #investing #tradingalgos #tradingsignals #cycles #fibonacci #elliotwave #modelingsystems #stocks #bitcoin #btcusd #cryptos #spy #es #nq #gold
SPY/QQQ Plan Your Trade For 12-17: Momentum Rally PatternToday's Pattern suggests the SPY/QQQ will rally higher - possibly attempting to find a top.
What I find interesting is the big rally in the QQQ/Nasdaq yesterday. Possibly, the Momentum Rally phase hit the NQ yesterday.
Overall, I'm still looking for the markets to attempt to roll into a topping pattern. So, I'm staying very cautious of any big market moves right now.
Yes, if you look at the QQQ/NQ, it looks like the markets are in liftoff mode (bullish), but other data suggests the markets are actually weakening and pulling into a reversion phase.
Gold and Silver will likely find a base/bottom soon. I picked up some Call options on SILJ and GDX recently anticipating the potential rally move.
Bitcoin is well beyond a 100% measured move higher. Even though I believe Bitcoin can rally to 112k - 115k, I'm urging traders to stay cautious (still).
My data suggests the markets are weakening and possibly moving into a pullback/reversion phase.
Get some.
#trading #research #investing #tradingalgos #tradingsignals #cycles #fibonacci #elliotwave #modelingsystems #stocks #bitcoin #btcusd #cryptos #spy #es #nq #gold
#GOLD ANALYSIS UPDATEWorld gold prices increased slightly as the USD dropped. Recorded at 9:45 am on December 17, the US Dollar Index measuring the fluctuation of the greenback with 6 major currencies was at 106,470 points (down 0.08%).
➡️ The gold market is cautious as investors prepare to receive the decision of the US Federal Reserve (FED), which is expected to reduce interest rates with a "hawkish" message after the monetary policy meeting. last of the year.
➡️ Although gold prices maintained a sideways trend ahead of Wednesday's decision, one analyst said the message from the Fed could lead to a larger correction in the precious metals market.
PREMIUM CHANNEL AVAILBLE
Daily Watchlist (12/17/24) + Market NotesSPY - Failing attempts all over to reclaim highs and lows, so we are making new intraday Broadening Formations. The current one as seen in the chart, is looking to potentially head back through previous range if unable to continue to the upside pivots around 608.40 and 609. Given we have FOMC news Wednesday, I am not expecting too much to happen tomorrow as we are stuck in previous range and keep seeing failed attempts to reclaim pivots. Of course anything can happen, but I will strictly be watching individual names only for trades.
QQQ - New ATH again today. Nothing special to note besides the fact that tech is obviously leading things this week
DIA - Polar opposite of QQQ. Industrials getting slammed again this week as DIA puts in its 8th consecutive Daily lower low
IWM - Green today but similar to DIA
Overall market notes: Its clear that the market continues to see cyclical names move higher while more defensive and noncyclical names continue lower. In light of FOMC this week, it doesn't seem like any sectors are making too big of shifts besides financials finally seeing some buying again. Mainly just concerned with what SPY does this Wednesday as it seems like usual we are waiting for the news before making the next significant move.
WATCHLIST:
Bullish :
NASDAQ:PLTR - Potential 3-2U daily with a potential 3-1-2U 4HR to trigger the day. FTFC green, but week is inside with lots of room to go for either side to go 2
Bearish :
NYSE:UBER - Potential 2-1-2D Daily. Shooter inside day to put week 2D and confirm Q attempting to go 3 after hitting hammer revstrat upside magnitude earlier this Q
NYSE:PFE - Potential 3-2D daily to put week 3-2D. Weekly reversal occurred at Q exhaustion, but failed 2 upside attempts now. "Fail one side, target the other"
NYSE:PINS - Potential 3-2D Daily to confirm Weekly 3-2-2D in force with magnitude left
Notable winners from weekly watchlist (posted Sunday 12/15):
ETSY, RBLX, RKLB, OXY, WMT
Daily Watchlist (12/17/24) + Market NotesSPY - Failing attempts all over to reclaim highs and lows, so we are making new intraday Broadening Formations. The current one as seen in the chart, is looking to potentially head back through previous range if unable to continue to the upside pivots around 608.40 and 609. Given we have FOMC news Wednesday, I am not expecting too much to happen tomorrow as we are stuck in previous range and keep seeing failed attempts to reclaim pivots. Of course anything can happen, but I will strictly be watching individual names only for trades.
QQQ - New ATH again today. Nothing special to note besides the fact that tech is obviously leading things this week
DIA - Polar opposite of QQQ. Industrials getting slammed again this week as DIA puts in its 8th consecutive Daily lower low
IWM - Green today but similar to DIA
Overall market notes: Its clear that the market continues to see cyclical names move higher while more defensive and noncyclical names continue lower. In light of FOMC this week, it doesn't seem like any sectors are making too big of shifts besides financials finally seeing some buying again. Mainly just concerned with what SPY does this Wednesday as it seems like usual we are waiting for the news before making the next significant move.
WATCHLIST:
Bullish :
NASDAQ:PLTR - Potential 3-2U daily with a potential 3-1-2U 4HR to trigger the day. FTFC green, but week is inside with lots of room to go for either side to go 2
Bearish :
NYSE:UBER - Potential 2-1-2D Daily. Shooter inside day to put week 2D and confirm Q attempting to go 3 after hitting hammer revstrat upside magnitude earlier this Q
NYSE:PFE - Potential 3-2D daily to put week 3-2D. Weekly reversal occurred at Q exhaustion, but failed 2 upside attempts now. "Fail one side, target the other"
NYSE:PINS - Potential 3-2D Daily to confirm Weekly 3-2-2D in force with magnitude left
Notable winners from weekly watchlist (posted Sunday 12/15):
ETSY, RBLX, RKLB, OXY, WMT
2024-12-16 - priceactiontds - daily update - nasdaqGood Evening and I hope you are well.
comment: Another mind boggling rally with a strong break above 22000. Volume is atrocious but that does not matter one bit as long as we continue up. Market has now broken above at least 2 bigger patterns on my charts and every time a market does that, I expect it to fail, rather than to be the start of a new and stronger trend.
current market cycle: bull trend but very late and will end soon
key levels: 20000 - 20500
bull case : I got one more bullish target at 22400 but that’s it. We could reach it but I would be very cautious tomorrow and wait how much interest there is in buying above 22100 when the momentum fades. No more thoughts about this for now from a bullish perspective. It’s beyond overbought.
Invalidation is below 21800.
bear case: Many upper trend lines and breaks above them. Overbought conditions and low volume. All valid arguments but only price matters and that is going higher. 1h close below 21900 is needed for the bears. Before that I would not trust most selling attempts because it’s more likely they will become another bull flag and break to the upside again. I’d be very surprised if bears manage to get down to 21900 and close the gap.
Invalidation is above 22200.
short term: I’d rather look for shorts above 22100 than for more longs. Can go higher but it would do so without me.
medium-long term - Update from 2024-12-15: Will write a new outlook for 2025 over the weekend.
current swing trade : None
trade of the day: Just balls to the walls long from us open or even Global for that matter. Unreal strength.
Get Ready for a MASSIVE Week Ahead! Watch now! 🚨 Get Ready for a MASSIVE Week Ahead! 🚨
Don't miss out on preparing for the upcoming week and the year-end Santa Claus Rally! Make sure to watch this entire video to stay ahead of the game.
📊 In this video, we'll cover:
-Major economic news and events
-Market trends for NASDAQ:QQQ , AMEX:SPY , and AMEX:IWM
-Latest updates on all current H5 Trades such as NYSE:HIMS NASDAQ:MBLY NYSE:SQ NASDAQ:MARA NYSE:FUBO & more!
This video is JAM-PACKED with insights and valuable gems you don't want to miss! 💎
Buckle up and check it out now! 👇