I took some puts on the SPY
this week as I think it will pull back a little bit before we see a monster rally and blow off top. It broke the 12 year trend line
in after hours and I think it has some more downside to come. The $340 level is my first target and anything less than that I will be attacking to the downside aggressively. We could finally be seeing fear coming back in the market as covid cases rise, further lockdowns looming, no stimulus in sight, and a potentially ugly transfer of power for the new President. I am way more bullish
than I am bearish
at this moment due to the massive amount of liquidity injected by the Feds, but we are in a very pivotal moment where anything can happen.
This is not financial advice. Good Luck!