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Bullish momentum, ATH, frothing, fizzling, beware of the big drop ahead


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#21 dTraderB

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Posted 28 December 2020 - 06:37 PM

ES 3780 will trade before ES 3680



#22 redfoliage2

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Posted 28 December 2020 - 07:25 PM

I see as soon as the House passed the $2000 stimulus check bill it's dead ..................


Edited by redfoliage2, 28 December 2020 - 07:26 PM.


#23 dTraderB

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Posted 29 December 2020 - 06:14 AM

yeah, Bloomberg seems to think it will not pass in the Senate

 

I see as soon as the House passed the $2000 stimulus check bill it's dead ..................



#24 dTraderB

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Posted 29 December 2020 - 06:15 AM

My FF for 2021. FWIW:

 

Up to SPX 3900 to 4K into Jan/Feb

then drop, followed by slow  & gradual up

then big rally into September, then down for at least 2 months

 

2020 SPX high  4200, low 2900/3k, close 3500



#25 dTraderB

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Posted 29 December 2020 - 06:17 AM

https://www.marketin...summation-index



#26 dTraderB

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Posted 29 December 2020 - 06:17 AM

https://www.marketin...lume-oscillator



#27 dTraderB

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Posted 29 December 2020 - 06:18 AM

https://www.marketin...ine-volume-line



#28 dTraderB

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Posted 29 December 2020 - 06:19 AM

https://www.mcoscill...t_breadth_data/

 

McClellanOsc_952.gif



#29 dTraderB

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Posted 29 December 2020 - 06:22 AM

I glance at the Es nd NQ 15m and hourlies as much as I can ....

when I am not sure about a daytrade I seek confirmation or invalidation from 15m and hourlies decide

 

it is like watching paint dry or grass grow but those charts help tremendously 



#30 dTraderB

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Posted 29 December 2020 - 06:24 AM

ADAM: 

Coming into 3740 now in overnight session! My 3770 target #2 next up directly if bears don't step in right here for a cool-off

 

3730-3740 Target hit in #ES_F. Great example here of how consolidation precedes trend & last weeks chop was the setup for what has been a nice run to start this week Above 3740 starts the next leg to my 3770 and then 3900 targets, but some pullback or basing here likely 1st $SPX
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ZVBuToeP_mini.jpg
 
Adam Mancini
 
@AdamMancini4
· 22h
All last week my #ES_F target was 3730-3740 & we're almost there. Its resistance of a clean month long "megaphone" (green below) - core pattern now Plan today: Could pullback/base there. As long as it holds 3690, my next targets of 3770 & 3900 in play. 3685 fails we selloff $SPX twitter.com/AdamMancini4/s…