My 60-min Trend System went short today (as did I). Yet despite that, I think December will end up being a very bullish month.
BUT! The SPX failed at the 200 day MA ... again!
It made a clear higher low since the last test confirming the divergence seen in October. I think the current pullback is just a move to relieve the short term overbought conditions (at a level that will invite over-bearish prognostications, i.e. the 200 DMA). I actually see some very bullish developments happening with my Daily Trend System. But there needs to be some more confirmation first, more on those as they develop.
This is what I would expect to see if the more bullish scenario is going to play out.
In the meantime, just trading the signals from my 60-min system.