Interesting morning!
So here we have the /ES, which was dipping nicely last night but has shaken off its woes and, as of this composition, is up a little bit, just below resistance.
The Dow, on the other hand, by way of the /YM futures, is having none of it. It has rocketed many hundreds of points higher without a care in the world.
And yet the Nasdaq, where most of my shorts are focused, continues to bleed:
Oil, thanks to the 37th capitulation by TACO-man, continues to sink lower:
And South Korea, where the AI bubble’s bursting has kicked off, is in its own free-fall.
Look, it’s messy out there. This is why I’m focusing on one stock at a time. As I look at the longer-term /ES setup, it looks absolutely dynamite to me. I started loading up on January SPY puts yesterday, and I’m just going to keep adding to them.
Between now and Friday morning is going to be nothing but fireworks. Get ready!
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