Wednesday, December 26, 2018

Morning Charts 12/26/2018 SPX

It's hard waking up early out here on vacation. It used to be easy, but ... it's nice to get to sleep in.

Hope everyone had a great Xmas.

Now get ready for all the year in review stuff.

On to the lie -

It ain't pretty. There is a somewhat obscure trend line that price may be getting support from here. I would not expect any backtest of the consolidation area above. Too far away now. BUT that would be a very likely technical thing to happen. Suck em all back in before ripping their face off. Yes, the old suckers rally. It would setup and epic collapse.

21-19 SPX is first real support. Below that the old ATH double top. Below that I see around 11. IMO 11 would set a great base to build on.

More to come below.

Have a great day.

Happy birthday to Mrs. STB!

GL and GB!

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