US Indices

Nice 1% gap down on the S&P open. Left a short position open into close so worked out well.

 

Crunched the numbers so far. The probability for your Dow 22.5k level to materialize is very low in the near term. Dow 26.5K is more realistic if it drops this month but the odds is for it to go sideways.

One of my reasoning why Dow 22.5k is very unlikely is because there is not enough time to bring it back up again to 30k+ before 2021 if it does go down so far. One reason why I thought a low in the summer and then a high near election for the Dow. I was very wrong on that, so....

I still would stick to scalping for now.

 

The Dow is immaterial. Nasdaq is not...
The Spooz are heading to 3200 maybe even 3000, after a dead cat bounce next week(s).

 

So we crossed the Dow 30k earlier. We have much higher to go . But looks like it will happen shortly after new year instead of before new year. I expect a quick drop of about 2000 points before going to space again.

Drop ~2000 and go back up ~5000-6000 points. Thats how they normally operate.

 

May not even bother with the drop. Going straight up first.

 

Higher to go. Maybe middle of next week to be careful.

 

I'm selling on this bounce. Start of next week or even earlier is unsafe.

 

Looks like it's gong back up.

 

So I was correct for a change this week is unsafe to long the US indices. I think the bottom is close for the Dow at least short term and I have started to go long.

 

Decided not to get too greedy. I'm out of Dow.