This is the biggest overnight gap open since 2020 lockdown pandemonium. pic.twitter.com/ysvARgRZWK— Mac10 (@SuburbanDrone) December 20, 2021
$SPX bottomed at 4531 in what is likely the last big down day in December. From here we're likely to see a rally into December 29. After today's decline 4800 is off the table, but we may still get a rally to the upper BB which means a marginal new high is still possible. pic.twitter.com/pM3o17GXMM— CyclesFan (@CyclesFan) December 20, 2021
Last week, 4590-4600 in #ES_F was key support. Bulls had 3 quality shots to rally off it & fumbled badly. Bears in control— Adam Mancini (@AdamMancini4) December 20, 2021
Plan today: 4540-45 was next down as posted & battling there now. If relief bounce coming has to be here but unless 4600 clears on it, 4475/4455 next down https://t.co/8UUEQBCa6g
This is how parabolas resolve. large portion of the crash occurs in a very short period of time, trapping masses...This one crashed 30% in 2 hours. Then the rest of the sell off is realized as trapped crowd capitulates. Parabola started around 10, its headed to 10. #USDTRY pic.twitter.com/ZuIK9APSY3— xTrends (@xtrends) December 20, 2021
Two MAs: (1) While most traders watch MA-50 for reference, I find MA-55 is much more accurate--sometimes to the penny, to nail the high/low. (2) tmrw, MA55=4585 & MA50=4607 would be tested--given the internal wave structure, I bet it would get over 4585, but fail at 4607.
Triangle 4? (1) at 4531, SPX completed a zigzag corrective wave, whereas w-a=w-c. (2) it can thrust lower for a 5-wave impulsive wave, but not necessary--A, 12/20 is my cycle turn date; B, a zigzag corrective wave fits well with a triangle W-4. (3) A trip back to 4720 area is on.
In case you missed it: Elon Musk, world’s richest person, said on Twitter that he’ll pay >$11bn in taxes this year, an amount that could constitute record payment to US Internal Revenue Service. Unusually high levy comes after Musk exercised 15 mln options https://t.co/JV2oNFcr4h pic.twitter.com/HRpnEMcvzZ— Holger Zschaepitz (@Schuldensuehner) December 20, 2021
Every single one of these dips there was someone calling for the “This is it” end of bull market moment.— Figuring Out Money (@mikepsilva) December 20, 2021
Look, we still have higher highs and higher lows. The trend still remains bullish despite that Vol is higher and breadth continues to be weak.
Be tactical. Focus risk 1st. pic.twitter.com/yPYgf43nZC
#ES_F, 1h— Yuriy Matso (@yuriymatso) December 20, 2021
Dip buyers stepped in... yet again.
If bulls can push ES to move above the 4600 level, this would yield a potential Bear Trap.
Investors are still conditioned to buy any dip. pic.twitter.com/Zrjnt3h5EL