Hello Everyone,
Yesterday I mentioned in the trading community that I was watching for a potential wave b/2 (higher low) for the SPX which the QQQ was completing an ending diagonal (falling wedge pattern). The onus was on the bulls coming into today and they delivered with gap to the upside and then pushing up towards the initial symmetry target.
When examining the past 8/9 days, you will see that SPX/ES has formed a base (range) and that's something we will monitor into the new year (how this bounce plays out day to day).
Lastly, I simply wanted to take an opportunity to say thanks to all the members for their patronage and input throughout the past year as well as be the first to wish you a Healthy and Happy New Year.
Note: Several previous ideas on watchlist remain valid but simply have not yet triggered so continue to re-examine each night. Consider making a fresh top 4-6 setups each night and put on front page along with existing trades. My advice is to keep your total ideas to a manageable number (very few in volatile market). Lastly, it's best to wait at times for valid setups to form - sometimes less is more. Big moves tend to occur first and last hour and overnight sessions.
Please take a moment to look at the trade ideas.
