The most bullish monthly price action since 2020
Actualizado
So after the ath, we established a lower high and it was all sell pressure for a few months
In June we had a possible bottom but it never closed above the downtrend
The last two monthlies have been uber bullish (barring WWIII next week)
We have in two months had a rejection of the 0.5 retrace down and a rejection of the the 0.382 fib
We should close above the downtrend
If so it will retest that resistance level above which we haven't closed a monthly this year
I expect that level to be taken out in Q1 and a higher high for SPX on the monthly- we should get that on DJI shortly
Another difference with the June rally was:the buying was done mid monthly; and in that period there weren’t consecutive bullish monthly closes
Algos, MM and smart money can send the market where they want
But thankfully the chop and pa psy ops invariably come mid month
I haven't seen reversal monthly PA like this that hasn't confirmed but it does take months to play out
We now have two months of buy pressure with testing and rejection up of key supports; with bullish closes to the monthlies also
I'd expect finish the month bull
Chop in Dec
Pick up pace in Jan
And end the bears in Feb/March
Dollar PA is the inverse and the corollary to the aforementioned
GRI 2022
NOT TARDING ADVICE
In June we had a possible bottom but it never closed above the downtrend
The last two monthlies have been uber bullish (barring WWIII next week)
We have in two months had a rejection of the 0.5 retrace down and a rejection of the the 0.382 fib
We should close above the downtrend
If so it will retest that resistance level above which we haven't closed a monthly this year
I expect that level to be taken out in Q1 and a higher high for SPX on the monthly- we should get that on DJI shortly
Another difference with the June rally was:the buying was done mid monthly; and in that period there weren’t consecutive bullish monthly closes
Algos, MM and smart money can send the market where they want
But thankfully the chop and pa psy ops invariably come mid month
I haven't seen reversal monthly PA like this that hasn't confirmed but it does take months to play out
We now have two months of buy pressure with testing and rejection up of key supports; with bullish closes to the monthlies also
I'd expect finish the month bull
Chop in Dec
Pick up pace in Jan
And end the bears in Feb/March
Dollar PA is the inverse and the corollary to the aforementioned
GRI 2022
NOT TARDING ADVICE
Nota
First time we’ve had consecutive green monthlies all yearAnd barring a disaster into monthly close yeh nature of this two candle combo at key supports and above the downtrend is insanely bullish
However, they’re not going to blow past that resistance at just below 4150 easily
I’d guess we get above it next month but don’t close the year far above it
Odds are it will get tested a couple times on the monthlies in Q1
Then the rocket launch in Q2 imho that’s probably when the dollar hits circa 100 dxy
Nota
I’d say it’s unlikely we close monthlies below 3900 going forwards but I’ve been wrong (once) before on spx…Nota
Forgot to say because it’s so obvious to me but a smart man (so no one here) noted price consolidated on both our medians and is now above both Send it
Nota
Looking at the weekly I don’t think we have a lot more down2 days for the month end I’d expect one red one green
If it touches 3900 then we can expect significant upside maybe even that downtrend at 4150
Dollar broke out today so we may get the dump to 3900 tomorrow and then a pamp into month end…
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