I wont be surprised to see 3900 test and then one more up from the bull flag.
If 3900 holds we should see 4100+ move on the last leg up.
The amount of puts is insane, unless I/we dont know something, its a retail/perma-bears trying to short every top and you know what happens to those puts when P/C ratio is so up.
I also start to see some really out of the money SPY put prints, like down to 300-335, which I havent seen last 2 weeks
Today is a turning day as well as tomorrow and the day after, so a lot of choppiness is expected and trading levels will be rewarded imo
There could be a start of the real move down only after 22-23rd going into EOM where Nov 30th is a panic cycle day.
I will be looking to buy next low and currently short ES from 3960.50 with a 9 points stop. Will exit half at 10+ points gain and will move the rest at BE
If 3900 holds we should see 4100+ move on the last leg up.
The amount of puts is insane, unless I/we dont know something, its a retail/perma-bears trying to short every top and you know what happens to those puts when P/C ratio is so up.
I also start to see some really out of the money SPY put prints, like down to 300-335, which I havent seen last 2 weeks
Today is a turning day as well as tomorrow and the day after, so a lot of choppiness is expected and trading levels will be rewarded imo
There could be a start of the real move down only after 22-23rd going into EOM where Nov 30th is a panic cycle day.
I will be looking to buy next low and currently short ES from 3960.50 with a 9 points stop. Will exit half at 10+ points gain and will move the rest at BE