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Guess bias is up. Big guys are probably gone, so generally no big selling pressure...
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Bias is up but I don't expect it to go far so I'll treat it as a range day no matter what meaning avoid trade unless absolutely sure.
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People who are not currently appreciating this rally leg:
Banks
AD
1/VIX
1/VXN
(AD and the options traders are trying to bull, but not trying hard enough…. yet...
Disclaimer: I am not an investment advisor. This is just my opinion NOT investment advice.
What's new and just hit the wire. GAAP on SPX is giving the first warning sign, how deep the correction from here will be is depend on employment number, last two times in 2012 and 2015 good employment and QE held up the economy from crashing, well, will this time be the same. for FA crew, EMPLOYMENT and FED are the key, for TA crew, sell first ask question later.
Merry Christmas.
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My comments are for entertainment/educational purpose only. NOT a trade advice.
Just to let you know I'm still awake. Double bottom, at least the range low was in, if lucky there might be more such as new day high, let's see.
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