ES balancing. CAN SANTA SAVE THE DAY?
This last big push up on ES has followed fibs and 100SMA
again near perfectly. Traded back down nearly exactly to
the halfback mark in just a handful of days; however, the
move back up was even quicker... Was this so the EOY
pushup is that much more powerful? Let the big boys take
some profits and then reload? The tell will be if we can
hold the 4662ish area. The longer we phaff around here
balancing on this fast move up from Monday, the more
likely we are to break to the downside. We have
momentum on our side still currently, but for how much
longer is the question? I think not much longer. We need
to see this move up with some sort of oomph this week or
I believe we will have to go back and retest the 4543ish
0.618% extension yet again. Ultimately we have the
200SMA looming down below around 4300ish IF we can't get
going.
Vol profile & POC is nearly identical 3 periods in a row now.
4678-4695 obvious major balancing area. We will keep
balancing in this range until we lose 78 on a 30min or above
timeframe in which case, 62 is imminent. If we lose that level,
it's a decent freefall back to 4609 & ultimately 4543.25.
Alternatively, we get a decent close above 95 (30min or
above meaningful close), we will try to ATH's again~ major
resistance at 4712. We get above that, will slingshot up to
4832.50.
Can Santa save the day?
Only time will tell. Have a plan for either scenario.
again near perfectly. Traded back down nearly exactly to
the halfback mark in just a handful of days; however, the
move back up was even quicker... Was this so the EOY
pushup is that much more powerful? Let the big boys take
some profits and then reload? The tell will be if we can
hold the 4662ish area. The longer we phaff around here
balancing on this fast move up from Monday, the more
likely we are to break to the downside. We have
momentum on our side still currently, but for how much
longer is the question? I think not much longer. We need
to see this move up with some sort of oomph this week or
I believe we will have to go back and retest the 4543ish
0.618% extension yet again. Ultimately we have the
200SMA looming down below around 4300ish IF we can't get
going.
Vol profile & POC is nearly identical 3 periods in a row now.
4678-4695 obvious major balancing area. We will keep
balancing in this range until we lose 78 on a 30min or above
timeframe in which case, 62 is imminent. If we lose that level,
it's a decent freefall back to 4609 & ultimately 4543.25.
Alternatively, we get a decent close above 95 (30min or
above meaningful close), we will try to ATH's again~ major
resistance at 4712. We get above that, will slingshot up to
4832.50.
Can Santa save the day?
Only time will tell. Have a plan for either scenario.
Comment:
AAPL single handedly bringing Santa???? Looking pretty good!