- clear downtrend channel on the 3D chart. another lower high should mark end of this santa rally, but if the price doesn't break below 3950, watch out.
- Worse scenario for both bulls and bears is slow grind for next few months until macro situation becomes clearer in Q1. Price action in mega cap ahead of Q1 earnings would be first sign of things to come. I don't think this rally will fade as quickly as last two. But again 3950 and 3800 are key levels to watch....any consolidation above those levels will be sign of strength.
- Below 3800, we go lower to 3200 and then 2800 perhaps (black swan event?) It's important to keep things in perspective. If you have missed out on this phase of rally, risk to go long here is substantially higher. Better approach would be to let price spice to 4150 and wait for consolidation. Go long on any pullbacks selectively.