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Market might or might not pull back here, but one thing for certain is that there is a higher high ahead. Currently, both swing and short-term signals are bullish. Look like bears again live to fight at another day, not today because of high probability of a higher high ahead.

For those bears getting stuck, there is a hope because ES rarely leaves any open gap like this. However, I don't think this gap will get filled within today/tomorrow because swing signals are quite bullish.

Swing signals are still very bullish, while short-term signals are getting mixed. I guess swing/short-term bears have no choice, but live to fight at another day.

ES is up >15pts within my expectation that a sizable rebound was imminent, but without me on-board. Going to sit and watch how market plays out for now.

As long as we can milk money out of market consistently so we can provide foods on the table for our family, who cares about what other think :p

IMO, I believe market might open with a down gap on Tuesday morning and then we will see a sizable rebound (i.e. SPX with >15pts movement) that might last for a day or two. I might execute a swing trade that day if market indeed opens with a down gap. Happy New Year to all. Let's hope next...

Of course, I believe gut feeling is very important, especially when you are doing countertrend trading. Your gut feeling will kick in when you sense something isn't right. Like I mentioned before, such gut feelings often work out well for you because you develop it after flipping through ton...

Assuming SPY will close in red today, there should be a lower low ahead after 3 red days. Besides, there have been 5 consecutive open up gaps, which a sixth one for tomorrow is rare. Therefore, I think it's safer to bet on the SHORT side than the LONG side today.

2017 could be a very volatile year as global markets seem to run out of steam. IMO, gold might perform well next year????

IMO, the gut feeling/instincts/intuition only count depending on how knowledgeable and experience you are in trading and how well you know about your trading system, where your trading system must possess some signals that are able to tell you cutting loss immediately. If your gut feeling is...