sp'60min
sp'weekly1b
Summary
Seen on the bigger cycles, it should concern those resolutely holding short, that there really isn't any key resistance until the sp'2040/60 zone.
Who wants to hold all the way to there?
For the 3x leveraged ETFs, that'd equate to another 4%.. x3.. 12%.. plus.. add in some decay of say 3%... so.. thats 15% downside... probable.
For short dated option puts... they'd effectively be zeroed out.
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I could reel off a list of a few dozen key stocks that are all showing hyper-bullish candles to start a new week.
Suffice to say.. bears failed to contain the latest bounce.. and we're headed seemingly much higher across earnings season.
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*for the moment.. and probably the rest of this week, I have little interest in getting involved... not least on the short-side.
The next decent short-side trade doesn't look viable until at least 2000... and I'd really not be comfortable unless 2050/60... with the latter being some weeks away.
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notable weakness: AAPL, -0.4%...