The bulls put in a very strong day yesterday and, so far at least, the post-Xmas Santa Rally is intact. Bulls have the advantage today unless the bears can really impress. That would need a break below 2065 SPX this morning for me really & that would be the 2055/6 area on ES.
Xmas isn’t just a season of cheer and bullish tape however, it is also a season of colds. I have a mild cold, my trading bud Mike Vacchi at Princeton Trader has a worse one, and my collaborator Stan Nabozny at theartofchart.net has the worst, having lost his voice altogether overnight, so I did my first ever solo Chart Chat this morning.
As a result I’m running kind of late this morning and I’m going to use the ES, NQ and TF bonus charts that I posted for theartofchart.net subscribers this morning, as they tell the story & it will save me a lot of time. If you’re interested in seeing these every morning then I’d mention that I also post the DX, CL and GC charts as well, and sometimes others, and these are currently available to all subscribers, though we are planning to restrict these to annual or triple play subscribers within a couple of months. ES Mar 60min chart:
NQ Mar 60min chart:
TF Mar 60min chart:
Bulls took the short term advantage back yesterday and unless we see a break down then we could see 2090 SPX on a push up today. Bulls are working for end of month/quarter/year window dressing here and so far they are delivering that. There is strong resistance just over 2090 SPX so I’m still skeptical as to whether they could break above there. We shall see.
