Author: dereckcoatney
Notorious Fintwit personality with a sad, distant look in the eyes, strong determination in the heart
Protected: $SPY Looks to Be Completing an Impulse Wave
Protected: If We Do Not Take Out the 9/3 High Tonight, I Will Adopt a Medium-Term Bullish Stance (Few Weeks): Here’s Why
Protected: And Let’s Also Look at the “Bad Dream” $ES Scenario
Protected: Let’s at Least Examine My Worst Nightmare: The Bull Case
Protected: $ES at Very Important Juncture
Protected: Expectations for $ES from Here
Protected: Another Way to look at $ES Is as a Broken Down Head and Shoulders Pattern
Bear Flags and Frothing Bullishness: Local Structure on $YM
I’m getting about 20-30 comments every day saying things like this ad nauseam: “Christmas rally,” “You’re early, bro,” “Too soon,” “Not yet,” “Patience,” “One more high, bruh,” “5000 first, then we drop,” “Dude, your timing is off,” “b-but the Fed,” “b-but corporate buybacks,” “b-b seasonality” and on and on and on and on.
And yet, we sold off sharply at the highs (a warning), $JNK and $OIL both look like shit, and we’ve had some successful bear flags of late, which I haven’t seen in a long time. We had a nice, big one on $ES that did just what we like them to do. My members are also watching one on $RTY (here), and now we even have this bear wedge on $YM as well:
I have rarely seen so many people in such a froth to get in long at any price in my life. Give me some bullish structures and I might, at the very least, consider it. Until then, nah thanks.