Video I put together on the Smart Money room internal indicators and trading system. 13 min video. If you are interested to know more about what I do in my service or if you want to learn about market internals, this video should be useful to you. youtube.com/watch?v=-ear10…

Everybody get defensive? I think we have some more downside ahead and then maybe a bounce... before more.... but one step at a time. Here is how micro2 looks like right now.

Beginning to see signs that a deeper correction may be underway soon. My micro2 indicator went to a sell signal yesterday. Time to get defensive.

As always, I use the indicators I have to tell me when to short the market but on price, I see significant resistance soon. What kind of top this will be remains to be seen. But a reset will be a good thing for health of longer term bull market. Big picture NYHL chart looks OK

Price continues higher on weaker internals. This will eventually become a problem for the market. When is the question... Until it does become a problem, this levitation can continue. I am on the lookout for some kind of top happening soon - and it can be a significant one.

Shorter term micro2 has also been long for a long time. The more sensitive micro1 however has been on whipsaw mode for some time due to the way internals have been. Which is an issue for the market - price has been advancing on weaker internals. Micro2 chart -

The relentless rally continues. Long term indicators stay long and have been for a long time. NYHL1M positional chart here.

Been a while. Busy with more improvements to the Smart Money service taking what is already a great system and making it even better. But I will make a quick update on how I see things in the next few tweets.

Quick update. Exited some long trades last wk for profit from the 3450s entered Nov 4th. I am expecting some weakness to play out over the next couple of wks which then sets up a move higher into yr end maybe 3750 area. In cash waiting patiently for next primary trade to set up.

Yesterday's price breakout turned most of my indicators to sells or cash. So I am flat now and most likely will be so until the election related volatility is out of the way. Cash is also a position and in this environment, probably the best one.

Excerpt from my weekend report. And the Micro2, NYHL1M and the Secret Indicator charts. My pinned video gives information around these if anyone is interested to read more.

3450-3500 area hit. I think we can extend further into 3550 area in coming days. From there, correction is possible. I am still holding long from 3280 ES. Did a live video for my subscribers uploaded to youtube. I think there is lot of value for everyone: youtube.com/watch?v=gz2fOW…

Price hit the 3200 level and could not do much more than that. Went back long when my very short term indicators turned back higher last week. My view right now is that we are in counter trend move tht could hit somewhere in the 3450-3500 area b4 turning back down for another low

Looking at price by itself, return down to 3200 area is my min expectation but better would be down to 3000/2800 area which if held can begin another leg of bull market. Blowing off further directly will not be good for long term bull market health.

Going to the shorter term indicators, the micro2 is on sell (shown below). Micro1 is on sell as well. My composite trading indicator is on sell as a result. So I do have a partial short position right now. Will plan to add to this depending on incoming evidence.

After the recent blow off top, market seems to be in the early stages of a correction. However, this is still a battle now so I dont have a clear call on direction. Looking at indicators, NYHL1M daily is on the verge of a sell signal today after staying on buy for a long time.

We have hit both target areas I put out in last tweets. I wish I could say I traded long for all of those targets but not really because all my indicators were not supportive of the end portions of the rally What next? Here is link to my morning report - elliottwavetrader.net/p/analysis/Was…

While everything is on a buy and while I am long, I do think we are extended to the upside. I have a couple of targets out there 3275-3300 - hourly triangle projection target. And 3395 - daily triangle breakout projection. I think the first one gets hit. Second target not so sure

Updates. After a one day whipsaw, NYHL1M core indicator continues on a buy signal. Shorter term Micro2 also continues on a buy signal. Same for the most sensitive Micro1 indicator. All 3 components of my system stay long, so I am also long since last week.

Some of you have been asking for updates. There is really nothing to update though. We have been in trendless chop for last few wks. Some of my indicators are on sell, others are buys. I am flat right now and waiting for the next clear trade from my system to set up. It is close

As it stands right now, micro1 is on sell but pretty much everything else is on a buy. So this could just be a pause to refresh OR it could be something more. Waiting for more evidence right now. Until that happens, patience and enjoying being flat after a long time.