This is a 60 minute combo for fun. Coolbiz current count looking for a significant pullback. From twitter it was pointed out we seem to be pulling back after new all time highs, so I put some graphic representation of that. Looks like around 22 points once it goes. But the boxes show that it takes about 6 points or so above the last all time high. And of course that has been shrinking as the triangle closes. Anyway it all adds some support to the Coolbiz count that we are ready to nose dive.
Pasta Boss linked to that over the moon extreme call option figure. Helps to explain why the options market makers have been really throwing their weight around as we approach big strikes. And my last box says 3395 ( a big strike) is the pullback. But if it does pull I expect Goldman and friends will push this thing to maximum options pain level by Friday and I am guessing that is much lower. Oh yea the same risk man agement that forced them to buy (creating cover call option contracts) will be having them sell as those options drop out of the money. Whoosh (air pocket drops). So another reason for Coolbiz to be correct.
Finally the PBoC has stated that it is time to tighten belts, they are done with flooding market with liquidity. Overnight and today on the chart certainly shows that. Again, another argument in favor of the pullback.
And I know if you are a newly minted millionaire from playing Tesla options Japan going deeply negative on their economy and Germany about to drag Euro zone into recession is a meaningless piece of noise, but not if you are the dynamic duo from Omaha Charlie and Warren. But whio listens to them they are even older than boomers.
See you all bright and early tomorrow.