The NYMO up cycle continues.
A corrective move to the zero line in the days ahead would not surprise, but things are very strong.
Price is now well above the upper keltner band.
Closes above the keltner band are virtually always given up eventually, but the power move can continue for quite a ways (or not).
We now have 17 open down gaps, a record. Futures and options markets now determine the value of 500 companies...
The next correction is going to be like a game of Pac-Man on this chart.
My broadening top idea is looking pretty flaky at this point.
Getting trampled by stampeding bulls.
Nonetheless, the December low is very important.
I am still long small stub runner positions.
My discretionary paring back the runner positions by half last week is looking like an unforced error and likely to be recorded as leakage when all is done.
My year is pretty much over at this point. Avoiding new positions and resting is the mode for me. So, this is likely last post until the new year.
Merry Christmas and Happy Holidays to all.
P.S. Next year is going to be amazing to trade!