Option expiry day the Dow has been down 3 straight years. Yesterday we saw new highs, with the market topping 10,000 several times.
All call traders were profitable and day trades also possible repeatedly on slight fluctuations. Our hedge put loses value,and we'll hold only through Friday, as the follow through is key to what happened to the market yesterday.
Our call was up 106^% from opening by 3 p.m. and it took most of the market day to show the struggle as the market could not reach and hold 9999.99, the revised r1.
What's next. Well, make note that option expiry is historically down, and make note that it was a struggle to 10,000. We'll follow the follow through, and issue new Dow projections.
Gold and Oil continued to rise. Watch the USD and its value climb, all interrelated to why the market is being so euphoric, and all backwards.
Many ask me if I am a "silent bear." Not at all, just a skeptical man that questions it all.
The market did hold above 10,000, a strong bullish statement if there is one.
Study your Pnf Dow and OEX charts to new periods, such as annual, or monthly, to gain perspective compared to weekly views.
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