I'm just sitting here watching the bull/bear battle that has very few committed participants. I'm thinking its time for a bit of a pullback because we've taking this too high too fast. Market says (at least in the moment) we can do higher -- and goes from a wee bit under $434 where I can see it softly touching $431 to $435 where I'm wondering if my calls expiring on weds have enough time because
This could go to $441 launching off of $438 and maybe even hitting $445 but then it's going to crash down to $427 towards $417-$423. Either way, I think we're looking for $448 by the end of the month.
You know what this reminds me of? When they do a bot ban and all of a sudden everything seems eerily quiet and it takes you a moment to realize that everyone doing those things you were seeing was a bot. Because there's been no volume, yet things have gotten only crazier (Oct 30-Nov 3, boom, 4 days, 7% SPY)
This could go to $441 launching off of $438 and maybe even hitting $445 but then it's going to crash down to $427 towards $417-$423. Either way, I think we're looking for $448 by the end of the month.
You know what this reminds me of? When they do a bot ban and all of a sudden everything seems eerily quiet and it takes you a moment to realize that everyone doing those things you were seeing was a bot. Because there's been no volume, yet things have gotten only crazier (Oct 30-Nov 3, boom, 4 days, 7% SPY)
I usually try not to tell you what to do -- too crowded there. I'll point out what price points/trends/patterns the pros are looking at and let you interpret what that means for your portfolio.