DJI Throwover Imminent
Updated
Perhaps 650 pips left in the rally; perhaps not, pure gamble up here IMO; perhaps Monday 12/7 brings exhaustion gap?
A final parabolic surge might push index near 31k before it cascades... don't be long when it breaks!
Look how the MFI wanes as price creeps up the wedge; a clear EW appeared in the MFI during the November runup.
RSI diverges but ofc can still go overbought. All depends on whether the stim package gets done, or bogged down again.
Volume on latest pump is low, even less than the end pump in August.
A pullback to the S/R line around 28K is likely within days or a few weeks at most, IMO. Smart money is taking chips off table.
Outflows in November from insiders were record flows; MOMO crowd pumps new money in, old money flowed out.
Just an idea, not investment advice; trade at your own risk, GLTA!!
A final parabolic surge might push index near 31k before it cascades... don't be long when it breaks!
Look how the MFI wanes as price creeps up the wedge; a clear EW appeared in the MFI during the November runup.
RSI diverges but ofc can still go overbought. All depends on whether the stim package gets done, or bogged down again.
Volume on latest pump is low, even less than the end pump in August.
A pullback to the S/R line around 28K is likely within days or a few weeks at most, IMO. Smart money is taking chips off table.
Outflows in November from insiders were record flows; MOMO crowd pumps new money in, old money flowed out.
Just an idea, not investment advice; trade at your own risk, GLTA!!
Trade active
Opening shorts in SDOW; Bear spread in DIA 24Dec 301P vs 11 Dec 297P.Note
Closed all shorts in AM 12/08; expect blowoff top soon IMO!Note
Creeping closer to the apex, retests the ATH... if no blow, then down she go...Trade active
Shorted and closed but it looks more Bearish EOD; close below 30k breaks the flag, setup for selloff...Trade closed manually
Closed on am bearishness; might break up on vaccine and stimulus IMONote
IMO gonna double top before it rolls over; new ATH within 2 weeks, then Bears prowl in the New Year.As January goes, so goes the year; this is a setup for a real Bear Market IMO
Note
Broke under TL and now retested, rejected. Santa might be able to tweak it higher but after New Year it's headed for a big break IMO. long UVXY in Jan callsNote
Buying SDOW, covered writes short the Dec $14 calls
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