There are 3 areas the market has been chopping around in since November 10th - 3960, 3980, and 4k. Any one of them can be a resistance point where the sellers come in. Above 4k on a daily close, and 4100 would likely be next. Probable paths are shown. I'm still thinking a sell down to 3770 into December makes sense right now but 3900 will be a support zone. It could also just chop around until Wednesday - there's an enormous amount of data out on that day and also FOMC minutes at 2pm Wednesday. Will update if things get clearer. Good luck!
Komen:
upper yellow trendline target comes from this daily structure
Komen:
On spx cash, there may be another uptrend pitchfork forming. If so, the median line would be the target. If we have the Santa Rally after a pullback, it may be something like this into January.
Komen:
channel trendline on DXY holding so far (monthly chart)
Komen:
3960 still holding back bulls
Komen:
nothing really happened today. SPY is a DOji. DJT and IWM had relative stregth which could mean a bullish move tomorrow.
Komen:
Good morning, futures are getting above 3960 this morning, so I expect a push up to 4k before tomorrow's data/fomc minutes. I still think the yellow or red arrow path is most likely
Komen:
AAPL support is around 147, Under 146 and the markets are going to go lower with it. Target for AAPL is 140 if that happens (gap area).
Komen:
2nd resistance area of 3980 reached, I still think 4k is likely by the close, but maybe not.
Komen:
vix 8 cents away from daily BB with daily bullish divergence
Komen:
stops area starting to get hit. I may take a few small shorts into tomorrow (emphasis on small!)
