4k arrives - plan for the holiday stretch - SPX USOIL XLE BTC
Updated
Everything included in the video, I do think a turn lower is likely on these markets, but without as many market participants as usual we could have whipsaw reactions for a day or two. A sell down on the half day Friday would especially be bearish for Monday as traders who are long and away from trading will be trapped.
Good luck for the rest of the week and happy thanksgiving to you and your loved ones!
Good luck for the rest of the week and happy thanksgiving to you and your loved ones!
Note
Good morning, not much selling after the economic numbers so we may have another high coming, hard to tell at this point. Above 4010 and it probably marches higher. Under 3970 and it should be confirmation that the C wave started. Note
put call was 1.35 yesterday. Either someone knows something or there are too many shorts in the market. I'm betting the first, but another high may squeeze out shorts first. ycharts.com/indicators/cboe_equity_put_call_ratioNote
one more high looks likely after open, maybe into fomc minutes at 2pm. Note
looks like a top, let's see what happens from here. Note
no sell off, interesting. DJT and IWM weak again today compared with SPX. SPX is close to the 200 day moving average, perhaps they want to get there. I still think the half day on Friday will be a sell off. Note
DJT bear flag formation still looks the same, just extended Note
Have a nice holiday/break and see you on Friday!Note
happy thanksgiving, with futures trading I couldn't help but notice we are in a channel which may break down Friday. Another high is also possible, but the RSI is getting pretty weak. Note
Good morning, there's a shorter session today. We got very close to the 200ma (purple line) but didn't hit it. Either it was too obvious of a target, or they will try to tag it today. The aapl news out of china may affect appl, in which case the indexes would probably fall with it. Note
last reading on put/call was .88 ycharts.com/indicators/cboe_equity_put_call_ratioNote
no guarantees in trading but right now this is the current count. A friday sell off on a shortened holiday trading day would be a surprise and bearish for monday in my opinion. Note
so far on SPX this downtrend is holding 
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