All my indicators, measured move projections, dyanmic support on 120-min, dynamic support on daily, e-wave projections are all pointing to ES 1367-1370 area (SPX 1360-62 cash) for tommorow. BTW, someone dumped nearly 65000 contracts in the last 5 minutes of the trading. That's huge and means something. I guess we will know tommorow. They have been jerking the price all around, the last two days, confusing the heck out of the bull and bears alike. But the hourly trend indicators have been essentially saying the same thing, despite all those gyrations - DOWN !
Another small change day on both the NYSE and Nasdaq MCOs. Two back to back small change days on the MCOs, which are not very common. Nasdaq MCO flipped below zero pointing the summation index down. NYSE MCO ready to plunge below the zero.
Tommorow will a strong day either up or down - no ifs and buts. The odds of a strong move down is about 80%. It's about as good as it gets in TA. If such strong odds do not transpire and the market decides to move above 1392 ES, i will throw aside all my opinions and join the long side. Right now, all my work points down and i remain short from last Friday. I don't have to sweat sitting on the house money. So will give it some time.
Bottom line - ST bearish, IT/LT bullish.
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