So it looks now like we might have already had our final shakeout which was the drop from 6700-6350. With volatility so low a big move is coming very soon, and I don't think it will be down. Looking at volatility and given futures are about to expire in a matter of hours, we could see a giant green dildo incoming very soon that will take us to a target of 10K. I am long from 6680. In case we do have another shake out I have my leverage low enough to cover a drop to 6100 with additional buy orders staggered at $50 intervals between 6650-6100.
Comment:
Regarding the shakeout, if it hasn't already occurred, then it could look like this:(Note: The end target would be the same, so just something to be mindful of)
