Historically that is not the case leading into Q1. Because, well... Don't fight it. If we can get past the Dec 8th deadline on the debt ceiling, I have zero fear, as it seems the market is pricing in the taper talk for mid November right now, and has been for a month or two. These are good signs for bulls.
Relentless: You able to share your reasoning on what you're looking at for your forecasts? Just curious. Thanks!
wasn't paying attention at size this morning and got fat fingered, finally traded back to break even before lunch time, today is not my day.
Just curious are you still in this $ES trade of yours? I'm thinking that $SPY daily has plenty of room left, but are you thinking we take out the prior high?
NQ trending nicely higher. ES lagging a bit and still a bit sluggish on the day. May be one of those grinder days where you'll see the push higher later in the session. "Bullish" weeks usually have their high on a Thursday/Friday, so there's that. And op-ex tomorrow, too. Leaning long for today anticipating new weekly highs, but not really sure about any targets above or if we can get continuation. It's not unlikely today will be a consolidation either. Let's see if a pop above 32 breaks out or gets sold. Double tops or pullback on the daily after a correction is not uncommon, so may be wise to keep in mind in order to not become bagholders near ATHs.
I don't hold a strong opinion, but we're up nicely for the year and ~ double tops can happen after such pullbacks, so may be wise with some caution...
Again, I hear ya but I think it would be irresponsible for me to do anything but hold my longs right now given what I'm seeing (and add exposure on dips like this morning but took most of the added exposure back off just now). If I'm wrong, I'll lose some of my gains. I can live with that.