US 30 Upside Explosion; Possible Ultimate ATH: 30K?

Just an idea. Not sayin' this is goin' down; maybe we already saw ATH today on 7/15. But, maybe a brief pullback to lower channel TL culminating on 7/23 will provoke a feeding frenzy coupled with FOMC rate cut to push the darn thing to 30K. Could easily rise another 6-8% in euphoria and carefree complacency that prevails atm.

If this plays out the subsequent selloff will be spectacular- at least 10k pips. Probably gonna see a day when it tanks off 2k in one session later this year or early next.

FGS trade carefully or just stay out and marvel at the insanity! I marked this idea as 'long' but I'm not betting on it just yet.
See if we get a sell to entry for the fifth of fifth of fifth of... whatever wave this is now. GLTA!

Comment:

Looks like the Tri-Star is forming on third day, 7/17. This is a reliable Bear signal.

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Seems to have support above the channel lower TL at 271. Closed the shorts and rolled into bull call spreads. Maybe too soon; but down three days, looks like it might pivot higher here. They are enthusiastic going to FOMC on 30/31 July and there is no fear in the market, they buy the dips like well-trained dogs.

SPY seems bullish and found support at 297.2 today. Bottom of channel at 296.5.

Comment:

Pivoting off days lows around 296.8 SPY, 271 DIA. Not much downside left ATM IMO. Adding to bull spreads. BTFD will explode it IMO. Race ain't over yet; closed the AM gap; sold down to touch the channel TL. If it holds here = bullish!

Comment:

Cup and handle forming intraday on SPY, Dow; less evident in NQ. Bullish! Held at first support.

Comment:

Lifting but might still have selling unfinished. Modest bear trend should complete by 7/23. Expect rising into FOMC, than explosive exuberance. Do not be short in this!

Comment:

RUT, DJT quite bullish! IMO it pivots. One Bull Run left in it?!

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Called it spot on!

Comment:

If we get the sale it will likely bounce real quick. 27089 Might be pivot, confirm Tues.

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Flipped some calls for lunch money. Index has nicely filled in the graph curve, let's see if it holds, some big ERs coming this week, another MMM disappointment seems likely.

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BTFD! MOON SHOT EXPECT 27817 ON WEDS 31 JULY!

Comment:

Touched the TL in AM sell; gone long. GLTA!