Brukks

SPX Bullish alt - 4778 target call from 2 weeks ago on track

Long
TVC:SPX   S&P 500 Index
I posted a very basic chart from a few weeks ago showing 4778 as the upper target, that was based on a different view but the timing is firming up. Although I mentioned it would be a quick move in my previous post, this exceeded my expectation on timing (timing is everything in this game if you're trying to get those 5x options returns). So I searched for a reason for the acceleration and came to this view. I don't doubt that we get a brief W-4 pullback here in the next 1-2 days to at max 4664, down to 4604 (short term fibs in this area will act as support to get the retail buying help that institutions are looking for) but we should see this upper target before mid month, the remainder of the rally should slow down significantly as institutions distribute into continued strength, momentum, and bullish sentiment. I have a bearish alternative that topped out on Friday so I am being very cautious with leverage in this area but will confidently buy into 4778 and exit all longs at that target and flip fully levered short for any excess move up to 5100. I don't see this running past 5100 before 2023. I'm new to this, I appreciate the feedback.
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