As posted last week, my next level for the Cable is around 1.4830. But a really strong level is about 200 pips lower, whcih can be hit in the first days of January.
BTW, thanks for a great commentary on Armstrongs approach to interest rates and stock market connection, Jim. Great post!

Come on, overhead TL is waiting for a test.

hey....spx is green for the year again

Not a shocker, huh?

TL violated with backtest now, which will tell a lot.

Originally posted by MarcinO

Come on, overhead TL is waiting for a test.

It looks done, at least for now.

1.0920 might be hit before RTH close.

The ES went a bit over the area I mentioned, to hit the most key line dead on. I can't imagine anything turning this down before they maximize year-end bonuses, so I'm thinking new all-time highs are likely, but this is a key spot, so I'm ready if it weakens.

And yes, for the very short-term a short 'counter-trend' has long been triggered.

I mentioned that, even though it might be obvious, because there are two plays here (more, but two broad approaches). One might be a very short-term short right off the area, for a move back to price flow or into the area where it starts playing games. Another might be for a real move of size off this area, like it's done, a big correction is coming. Of course there can be other plays in between those, depending on what one thinks may be unfolding. The very short-term has just hit the first area, and is bouncing.

Same old, same old with the V. It's becoming one of my favorite moves. Get it going down and coming up. Cah-ching.

Merry Christmas to all, and to all a good... trading season?