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One More Bounce – Dec 28, 2018

Swift review and a suggestion or two. Our bounces across indices continue as momentum shifts into the close of the year. We are now closing in on the auction vacuums I mentioned at the beginning of the week. See the charts below. Please note that you can go to the 12/19/18 blog date for relevant trading levels if we expand – otherwise you may use yesterday’s levels in reverse!

Members, if you review the blog data from 12/19/2018, you’ll find the relevant levels to watch
Also approaching caution vacuum levels, so exhaustion is very likely for the broad indices today. Use caution while trading the edges for even though the edges are likely to reverse, they could have another squeeze and whipsaw as yesterday did
This chart is unique in that it has moved through two vacuum areas and created two vacuums below – making the fade in the future quite likely – though we might hold for the next couple of days. Very tricky space – and NOT for the swing trader to engage
Oil remains stagnant after the sharp edges – notice the opposing tails and heavily price congestion. Makes for nice regions of reversal trades but only after confirmation. Tread lightly
Gold continues its run, with pullbacks being buy zones as the dollar fades and uncertainty holds as likely. You can use the Fibonacci noted to assist with your trading levels combining them with the TPO tool from MotiveWave