don't think last week rally has any leg to stand on, when the 10y rate dropped 40bps. continue to sell ES puts at 4000-4200 range, to 200 ema.
On the surface it appears high probability mkts to have hit bottom and we are in the early days of the Santa rally? Everything is going gangbusters, right? I DON'T THINK SO, THERE'S MORE PAIN COMING, we're not at bottom yet or maybe it will go back to its previous Lows starting this month.
But it would also be too easy for shorts to "draw a line" and go short, so probably first a little movement up aka "dze famous Trap"
I now see I posted the same chart as Buy1Sell2 did friday - how original. Mods please delete my previous post