the general cycle pullback early in month. then rally into and thru expiration. then some selling and finally end of month window dressing buying. this does not always play out and you can not blindly trade on this. the general theme going around is traders will sell after beginning of year to get lower taxes. But where does the new money flow coming in january go. Remember what Willam Oneill said. "the trade won't work its too obvious". A normal pullback (reversion to the mean) will go to daily or 60 BBCL (bollinger band center line). after 80 years EW still works investorshub.advfn.com/uimage/uploads/2017/12/16/jeifvspxdec15-60.png