SPX Weekly Outlook: Very Very Bearish

SPX Weekly Outlook: Very Very Bearish
December 23 16:13 2018

The Dow Jones And other major indexes sold of into the close heavily this past week. The past 3 weekly outlooks have been very bearish and this past week demonstrates why we are not messing around with longs here in this market.

You are picking up pennies in front of a steamroller here.  Before I started scaling my time frame out a little further, I would have been super early on timing a bounce here as well.  This time WAS DIFFERENT for me? I have been very patient and only cared about closing prices. Consensus is looking for the bounce, and consensus never got it.

Above you will see All of the investors, traders, and fund managers who are trapped; trapped like rats! There is nothing bullish about this chart unless the Dow Jones takes back 24,800. A lot of volume and sales were exchanged at this level and it is very clear that this will be a stretch target for our bounce. I believe a bounce is imminent, but let price show the way. MANY are looking for “that bounce”.

Tomorrow would normally be a lighter volume day, but I think we will be in for a big surprise…

 

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heyimsnuffles
heyimsnuffles

Just Climbing the Wall of Worry and Picking the Right Time to Get out of the Way. I am a Nuclear Engineer who quit and has studied global and crypto markets for almost a decade.

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