Brilliant!

Yeah, not buying JPM up here, however I did just have a nice trade on a SHAK call.

OTOH Josh's enthusiasm for SHAK is supported by the chart, it looks like a decent basing pattern on the weekly, and you have a tradable low from two weeks ago. Coming into supply though.

Yikes

I don't watch CNBC much anymore, but today watched a bit of Half Time. Josh Brown going on about how cheap JPM is, so I look at the chart. 38% move up since October, how can anyone buy it now? It looks like it's in the process of completing a 5 wave pattern, and has some neg divergence on the RSI 5 and 14 on the daily and weekly. I'll never understand how to buy for the long term I guess.

SPX testing VWAP from below.

Sure, I got that part, I just don't understand what RSI itself is enough to know whether the flip over has anything to do with the strength of the buying.

(When you get a moment, Matt) Is this system like a breadth thrust signal, then? I.e., you have to have an up day with some real strength in the buying, which comes after a stretch of selling/down days. As an EOD signal, you have to wait for a reversal day with a breadth thrust, or in this case, an RSI move over 40. Yes? If so, then a pullback and a second entry is welcome, I'd think.

QQQ stalling near symmetry. Waiting to see what comes next.  Edit: symmetry broken; watching for a pullback and a candle reversal pattern on 3 minute to go long.

So here we are here again with the open coming far above the yesterday's close. Was hoping for a gap down to get an objective reversal trade. Matt, how do you view this open? Leaning toward selling into it or buying/holding w/ a stop below yesterday's close? Edit:  there's my answer for now - putting a stop below $397 for some of my SPY trade.

We have an inverted hammer doji on SPX 30 minute, price just went below it for a short trigger. The mirror image of Matt's educational example in the newsletter.

DigiNomad, are you selling any call spreads today? The JAN 20 404/406 is currently a credit of 30 cents.

+ 1 on this. I took some off yesterday, then put it back on, plus the 2nd CCI ghost signal, when we were near the lows. Took off the CCI at EOD, holding full position for S-trap and Bear Long. I also took a nice gap fill short trade with a couple short dated puts, with Matt's analysis giving me confidence.

Attention all shoppers: Stop Run below 3871 is now over!

SPX, 30 minute chart sports an inverted hammer/gravestone doji @ 2pm candle, with negative divergence on the RSI 5. Contemplating closing some or all of the SPY trade. Already closed a call at the morning highs.

May be a dumb question, but why is SPX down about 0.6% while SPY is down 1.1%?

That's one heck of a wick on the 5 minute bar.

On my TOS chart it shows ES/MES as testing (and looks like failing) Friday's highs, whereas SPX is 30-some points from Friday's highs. How could that be?

ES futures at the 78.6% retrace of this morning's drop.

A long trade during an overall bear market.