1/x Everything from Monday’s 🥐 Crumbs👇still applies, So I’ll keep this short & jammy...The speed of the rally has been telling. Despite bullish sentiment, a rally beyond the 2stdev up of the 20 day, continued bear steepening, NDX beta adjusted weakness, 🚨RSI’s, this market has
https://twitter.com/jam_croissant/status/1378990923825225731
2/x barely flinched... that tells me this market has more work to do on the upside still. This correction in time tells me that the rally was just a little ahead of schedule, but it seems unlikely that the market is going to let all of those late to the party enough time to catch
3/x up to the tour bus. ***4140 sits overhead & Vanna👸& charm 🦥 are slated to host an epic late Friday/Early Monday special edition of the Wheel of Fortune. Gary has gorged himself on🍌& is unlikely to be hungry until at least next week. Sky high ratings could distract
4/x the zookeepers & put an end to Gary’s dwindling supply of 🍌 with a rally to/above 4140 &/or as we move past 4/12. Although We have highlighted 4/12 as the date to begin to turn defensive, it’s important to note that this is just the opening of the🪟...Given how well fed Gary
5/x currently is, it wouldn’t surprise us if the🪟didn’t open until later in the OpEx week. The higher/quicker the market rallies, the earlier, & more bearish the distribution becomes as we push into mid to late next week. Watch sentiment closely at this point. It’s important to
6/6 realize that there are a lot of furuistas now (coincidentally?),including yours truly, calling for a 4150 area ST top next week, which reflexively makes this area less likely to be the🛑point. Watch fixed strike Vol on the rally! Gary’s the🔑as we move into next week. GL!!🍀
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