Santa Rally Possible?
Updated
Going oversold. Price pressing to prior bottom support zone. Watch small caps, leading indicator for pivots.
May be ending uptrend but a strong bounce could occur over holidays, wiping out shorts... would not chase this!
Friday Triple Witching was a Bear Trap; don't get caught twice!! Just GTFO if you are not damned sure!!!
Watch indicators, a buy signal may emerge! Trade with care FGS, whipsawing kills!! GLTA!!
May be ending uptrend but a strong bounce could occur over holidays, wiping out shorts... would not chase this!
Friday Triple Witching was a Bear Trap; don't get caught twice!! Just GTFO if you are not damned sure!!!
Watch indicators, a buy signal may emerge! Trade with care FGS, whipsawing kills!! GLTA!!
Note
Took a chance on qqq 380 weekly calls EOD. Shaping up...Trade closed: target reached
Back into the short entry boxNote
Nuts, just nuts. This is now 7 times up in the nosebleed seats. Price has made a rising triangle, these can break either way, there is strong divergence among indices, RTY well off ATH, NQ still well below but SPX just a sneeze away. Might get an ATH before EOY, January set up for bears.Note
Melting up FGS. Insanity. They already forgot about Fed, lockdowns, evrything. Just grind the money mill. Parabolic blowoff before the Great Crash of '22 IMONote
Tryed fade the gap, fail, tried a long, too late, then whipsawed on another short, have to give up FGS!Some days like this... can't win for losing. GLTA!
Note
Probably damned close to the ultimate ATH here, insane rally has pretty clear 5-wave EW and closing at/near FiboNote
Watch that unfilled gap... exhaustion IMO. Probably creep higher to EOY anyway, but could backfill at anytime.Note
Running into resistance 4790, futurz faded. Time to sell OTM calls?Note
Was an amazing run, might not be done yet, this sideways wobble could be prelude to a final parabolic vertical thrust.See the posts on Gamma, big callwall at 4800, hedgers may roll these up Friday and release price to move higher; or could start rollover. Still anyone's guess!
Would caution against getting big short atm...
Note
Posted Gammalab below, best education posts ever. The 4800 callwall is clearly apparent, price runs like a line across graph here; if price does not reject, it may explode in upside breakout, a short-killing exhaustion move.
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