SPX - S&P500 ,SP500

Things are likely to give confusing messages today, with the addition of Tesla to the market. The overall momentum is Bullish, Tesla will most likely drive up the price further. However, the market needs to pullback to collect liquidity if nothing else. Remember whenever there are buyers, people need to be selling to them.

Be patient on any trade entry long or short as we could see some decent spikes between now and early in the New Year.

Stochastic on both the daily and weekly are overbought - worth noting.

Disclaimer
This idea does not constitute as financial advice. It is for educational purposes only, our principle trader has over 20 years’ experience in stocks, ETF’s, and Forex. Hence each trade setup might have different hold times, entry or exit conditions, and will vary from the post/idea shared here. You can use the information from this post to make your own trading plan for the instrument discussed. Trading carries a risk; a high percentage of retail traders lose money. Please keep this in mind when entering any trade. Stay safe.

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inside the reversal zone - we are now seeing the drop, expect a retest or an even higher high.

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Looking at the levels, Stochastics and Monthly Elliott levels. This box is not for a reversal, it's quite possibly a re-accumulation area. Watch the pullback inside, just below and just above. 5th Wave Elliott - monhtly is Bullish.