Though the chance is very small that will be the case, it will present an opportunity to build a long-term short position. Any time trend is about to come to its final leg, its good to start building counter trend position if you can see it coming. Everything but the volume
suggest another upside leg is in process, but volume
is telling us we are about to reach exhaustion level where institutions are not buying but abandoning or selling in lots to a new retailers and investors. The chart tells us recent show of force from Feb's all time high did not last long, and corrected about 13.55% after it broke out upside June, but price seems reversing now with the possibility of a new higher high. Only 3-EMA seems scary for shorts and not always good to sell short if price is above 3-EMA but it may reward you if your bias leads to violation of that line and achieve your short term goal. Today took October 450 Put for $12.50. Stay safe and tuned for more to come!