3 - 4 attempts and breaking the range higher, Bulls must let go and let this down. They are vapor-locking the engine on no volume and it's gonna sputter out. Monthly Put contracts are expired, and by holding this high its Theta burned out the shorts (making it cheap to bring the market down for the MM. (Short on Open with 1/4 shorting pot with 7 day contracts 2...
Chart says it all..
Price is baked in to burn both Calls and Puts on Theta decay. For me the epiphany comes when one studies the call equity vs the put equity pools. Not open contracts, but equity value of one side versus another. If you have $400 million aggregate in your put contracts and only $100 million in your call contracts, the counter-party (the OCC) can make mint by...
Don't get caught in the Bull Herd. Looks like the typical weekend bull trap. Short into the Friday Rally..
Volume has dropped off, expecting market to meander for 1-2 days.. digesting it's previous movement.
Think fast and use tight limits and dump on the first sign of the turn..
Wedge did not finish before it was broken to the downside. Although vol did spike it did not have much of a cumulative buildup. This is showing a real prospectus for a 2-3 leg drop.. Although all sharp drops turned into bear traps, this one looks to need more formation. Expect large pre-weekend selloff. Riskoff.
Real Volume has not come in, albeit the end-of-day bagholder made sure to bring the market back into the trendline. Tomorrow expecting weakness before a later week large sell off.. It must be noted that each days analysis can shift depending on what it did for that day...
4th Harmonic is expected. It will be elongated as all dampened events play out.
Big selloffs to be arrested by the typical bagholder, their footprint will be long hairs out the bottom's of the 15 min candles. After about 4 candles the bears are beaten back and this rallies higher. First the market is left to determine if the trendline will hold (which it typically will not). Pressure spring on Vol is your second large indicator.
Bears and puts will be burned. The only question is or in a day or two after it drops a little more...
Close out any shorts and especially puts, classic bear trap in play. Market will loiter allowing last shorts to get loaded before the burn ride up. Notice MM deliberately made sure to break trendline to feign a corrective territory before this goes up.
Could not be more bullish on UCO call contracts. 6 month windows. Wars must be fought and cleaned up before fall, and the right call contract can pay 500x your investment..
All heavy drops that had healthy bounces had pressure (volume) buildups into the drop. So far the volume has remained weak, but it should be expected very shortly..
I don't own an Iphone, and many have hammered on them expecting a drop. It's going up. In the Long term this trend line will have to break a parabolic function to the upside.. Shorts will be squeezed close them.
Their gonna play the shorts (again) like a bad movie rerun. But first they need to puncture the bottom trendline to draw in lots of shorts before the atypical put burning..