SPX ES SPY Setups for 12/29

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For the second day in a row selling activity terminated at long setup 1 from the night before. From last night:

While buyers didn’t gain a whole lot of traction to the upside, sellers certainly have not demonstrated an ability to break a single downside level effectively since last Wednesday’s liquidation. I’ve provided some extended commentary tonight on some of my thoughts and thought process.

Aside from tonight’s commentary, it will be important to see what happens early next week when larger participants return to the auction. I’ll have a couple of extra posts out this weekend, one of which will outline my views on this and thoughts on 2024 in general.