We spent the last couple days, in my opinion, putting the final touches of this short term bullish celebration. Based on my primary black count we should be entering the dialed in target box for this b of B short term top. After which I have no reason (at this time) to believe we will NOT visit and breach 3788 in the coming weeks.
Not much else to share, as of right now, there's a small chance we bounce around in the purple before ultimately coming into the same target box location...however, the negative divergences building are signaling there's not a lot left in the upside for the short term.
First clue we may be on our way to visiting 3788 is a breach of 3886. I want to be clear I have a small short position for EOM Jan 4100 strike calls. I may add to that next week. However this move down I am expecting is a move to buy, buy, buy. Hence the reason why my short calls expire end of month. My goal is to place a short 3600 put position in the coming weeks in size with the April expiration date.
Have a great weekend.
Best to all,
Chris
Not much else to share, as of right now, there's a small chance we bounce around in the purple before ultimately coming into the same target box location...however, the negative divergences building are signaling there's not a lot left in the upside for the short term.
First clue we may be on our way to visiting 3788 is a breach of 3886. I want to be clear I have a small short position for EOM Jan 4100 strike calls. I may add to that next week. However this move down I am expecting is a move to buy, buy, buy. Hence the reason why my short calls expire end of month. My goal is to place a short 3600 put position in the coming weeks in size with the April expiration date.
Have a great weekend.
Best to all,
Chris
Go to ewtdaily.com for DETAILED DAILY UPDATES on this ticker, and get a 7-day FREE trial on updates on 27 unique tickers.