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Here's How to Know if You Have Post Holiday B.O. 12/28/20

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Oh there's no place like home for the holidays.

Except if you've been locked up in it for the past 9 months. 

Wanna get away? 

Asia woke up last night and right away started buying, and kept going all night. By the time Your a Peein markets opened at 9 AM CET, the ES fucutures were up 22 points. Although 22 points ain't what it used to be, it's nothing to sneer at.

But it wasn't enough for a Breakout.  On December 18 the ES hit 3722.88 overnight. This night it has only gotten to 3721. At that point cranky Europeans started selling, pushing the price down a tad from its high, and leaving 5 day cycle indicators in position to roll over. 

We are still way shy of a 5 day cycle projection of 3760. I don't think that's a reliable projection simply because the selloff that we're measuring from was newsnoise driven. A 2-3 day cycle projection of 3723 is done. 

But we're still 5 hours away from the NY open. A lot can happen. 

I think that 3714 may hold the key. If the pullback holds around or above that level, then I'd expect a thunderous breakout in Noo Yak when it opens at 9:30 ET. But if they fall below 3714, the next support and likely bounce point would be around 3700. 

tvc_f7f5a75e5381261fe483d39a96516876.png

I hope that Mr. Hanky brought you lots of presents

Good morning! 

Explosive Rally Ahead, or Plotz

 

 

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