Santa Clause is Coming to Town - End of Year Preview for SP:SPX by AdvancedPlays

Santa Clause is Coming to Town - End of Year Preview

We got more action than I thought we would today for sure, makes things more interesting. There's a lot of bottom signals I'm seeing right now. Probably best to wait a bit to see what happens in early Jan, but here's my thoughts moving forward.

Note

Thought I should update this after today, it's starting to look a lot more sketchy for bulls IMO. I was thinking everything was looking good for a Santa rally, but feeling more neutral now. This should be a pretty big pivot point so waiting for direction still.

Either way, ES failed to hold above 6,100 and SPY rejected 602.50. VX held the 16-15.80 area for now. Will be more comfortable with longs if those levels are broken, cautious until then. VX getting back above 16.80 would be my sell signal.

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You reap what you sow.

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