Not great for bulls, but whose trying to short a hole?

Jan 10

Lot of gap downs, lot of rallies getting faded.

Bears are cautiously in control. News can change things in an instant.

I do believe we are closer to the end of this correction, but geopolitical issues are starting to come up that may keep things suppressed or sideways.

Biggest risk/reward is aiming for a rally up by EOM. Perhaps when bad news takes a break. We do have an inflation reading release next week, could be nail in the coffin.

Overall, I am starting a bullish position. More likely we see pops a relief gap ups from here.

Maybe/probably wrong, but anyone opening a short position down here is clearly chasing and may find themselves becoming liquidity for overnight moves where all they can do is watch...

Jan 10

Trade active

I would be looking for 592 level to be tried and held by Friday. If not, would feel better moving on.

Jan 15

Trade closed manually

bang bang, closing 3/4 of my 1/31 calls here as we hit the upper trendline.

Congrats to everyone that followed along.

For everyone else that told people to short a hole, enjoy your loss.

Jan 17

Note

Completely out at 598.80 (dropped when i saw 599!)

This has been a great start to the year. getting on the sidelines to see how next weeks events impact us.

Do we see false breakout? Maybe a melt up? Maybe a melt down?

Remember, market always goes up. Only people who lose money trading disagree :P