SPY 5th wave in progress
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Small video about the near term price action into later January. In general, the small rally yesterday was perceived as bullish - SPX put call ratio dropped to 1.29 ycharts.com/indicators/cboe_spx_put_call_ratio.
However, I believe the 5th and final wave of this sequence will be finished next week. January should be percieved as bullish again before the larger move down.
Good luck!
However, I believe the 5th and final wave of this sequence will be finished next week. January should be percieved as bullish again before the larger move down.
Good luck!
Nota
fib area reached, taking a little profit here. They may bearflag here for a dayNota
under the fib, they may just slice through everything. Many are trapped. Nota
First wave may be done, fib line may get a bounce Nota
if this is a bear flag, 372 is the target and there will be minimal bounces Nota
spy already to 376, many are trapped and no bounces to get out...taking more profit Nota
Hourly bull divergences building here, It's a falling knife but I'm adding some long positions, very small. Nota
daily BB at 375, should find some support near there, we're 60 cents away Nota
possibly one more low tomorrow, not really sure if this is correct. Nota
looks like santa came already Nota
looks like a reversal on daily, but look at the daily ma cluster above.... Nota
spinning top on spy, while it does look like a reversal, there's a potential that we are in an ending diagonal, so if tomorrow we sell more, I expect we could make a very choppy bottom before the main reversal. Just be cautious before going "all in". I'm sure many are thinking this is the bottom, I can't tell just yet. 
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