For monday AM -
I got cut off at end there - i'll just add in words the rest.
LQ -
Daily, has been positive, just turn down ( as explained in video)
Short Term LQ - negative, and signals point down.
Sentiment - Sell signals, gone over that last week. way off Swing/IT buy currently.
Internals - cycled up to sell position, will need cycle down again, usually take a week or so.
Price - signals are negative, without at least tag of 2600 and require reversal signal.
Hourly Swing signal - still on sell as posted last wed, still have a little ways to go to trigger for buy, see below, ( I explained this signal in video
previously)
https://www.screenca...m/t/YqaXbwnPbHx
VST-ST sell for AM - as explained in video, putting high odds lower low ...2600 is high odds target, will need to see if we generate ST buy in the AM.
Overall - it's pretty bearish for next couple days, though, like last week, large bounces can occur anytime ..ST signal tries to pick them up
and did last week.
I'd like to get the test of Feb low out the way - 2530-2550 area...that will give me much better read on nature of the larger setup.
I did expect that test then a Santa Rally ..holding the 'range' ..but, its a little less clear now it will hold ..need to see real time and
how all the signals setup.
I do want to warn - that I have couple of very common setups that occur on intraday, now occurring on the daily/weekly, and wd project
a very large waterfall from here. The trigger for that setup wd be DAILY CLOSE BELOW 2500 ..so, not of immediate concern but
the setup is ON ..is well defined .. the target is pretty low, I wont' even say because it will sound silly ...but its alot lower than I wd
believe possible, and price setups are some of the best 'signals', but not holy grail, but we are really starting to look on shaky ground
here to me, I believe as said since top in early Oct we are in bear transition, with the 'obvious' break coming in 2019 , but if say 2450 max daily close into Dec 15'ish doesn't hold, well, Katy bar the door.
IF 2530-2550 holds or even if we intraday panic to 2500 or even 2450 max, AND if IT/Swing hourly signals reach buy, then I see a powerful rally for xmas back to 2650-2700.
So alot on the line the next week or so I believe.
Edited by Entropy3.0, 09 December 2018 - 11:00 PM.
