patricktapper

patricktapper

No we don't get a bounce. Best bet is that bears will continue to control the orderflow. Price should get down to yearly pivot where we can expect a reaction. Look out for 20,350.

patricktapper

Selling has dried up. Demand is increasing along with underlying buying in the market. More demand, and a lack of reinitiated selling should see BTC head towards previous highs

patricktapper

Neutral to Bullish. Respects my MA's and yearly pivots. May see a little more downside to the YP and 200 MA, then recover in a Santa rally. OBV is just starting to head up. See what happens

patricktapper

Looking good for a recovery. Bounce from 200 SMA down near yearly pivot. OBV is on the rise again. Maybe the Santa rally is not over ;)

patricktapper

RTY is at yearly pivot and 200 day MA. Volume now needs to increase as shown on OBV. Seasonally the market should still rally.

patricktapper

ES is making a a recovery upwards with the bulls entering at the halfback. Now ES could be setting up for a bear trap. At 5532 it hits yearly R2 pivot which coincides with a 50% retracement upwards from the low. At that point be alert to some consolidation and then a second move down from that point. The alternate scenario is that it will consolidate and resume...

patricktapper

Bulls are running out of steam. There is no buying volume and it looks like we will head down at least to the 200 ema (blue) moving forward. Interestingly, we are right at yearly R2. Watch out below.

patricktapper

See what happens here. That level is also near monthly pivot @ 5570. They are pretty close to each other so I expect some selling next week.

patricktapper Updated 

Not looking like a buy the dip opportunity at all. Next target is the coincidental Q and M pivots down near 5,300. That will also fill the gap from June. From there its a wait and see. Either more downside or a recovery after exits and accumulation.

patricktapper

Weekly pivots have worked really well during RTH. Technically you might see a good bounce @ S2 where we are now. It's Friday, we have CPI and probably some big earnings releases today as well. If it were to bounce, I'd expect some downside in the first 30 mins after the open and then a rally. Failing to do this means there is more downside to come today. I am not...

patricktapper

Bounced up to weekly S1 pivot today. See if this holds. I have the feeling it won't and will be more downside ahead.

patricktapper

Had a high @ Quarterly pivot, now we should see a bounce around monthly pivot (red) marked off on the chart

patricktapper

SPX Hit quarterly and monthly pivot this month. Now on the move to PP at around 5400.

patricktapper

Formed a double bottom against yearly pivot level. Now on the way up again. First target S3

patricktapper

Showing good signs of strength at yearly pivot earlier this year. And then a recent bounce at the 200EMA. Not convinced this down leg is finished, therefore what we see here may be a bull trap.

patricktapper Updated 

ES looking like profit taking about to happen. Up at monthly pivot coincides with Q as well.

patricktapper

Beans made a second bottom at the same yearly fib pivot. See if it can get past the last swing high after a bounce I noted earlier this year on the same level.

patricktapper Updated 

We are at R1 and FR1 yearly pivots. Strong resistance. Very ugly looking engulfing bar Thursday. Don't bode well. Could be the end of the Santa rally. Watch and see.