Seeing all these old clips of Elon pop up reminding me of how many morale crushing moments he had to endure on the way up and just simply refused to fold
Dude deserves every fucking penny
Print this out and pin it on your wall.
Life isn’t fair — and sometimes it really does suck.
But at the end of the day, the ones who win are the ones who stop living in victim mode and get back to work anyway.
The ones who always find a way forward and keep moving🤝
Long post incoming, but here’s my market thoughts now and into EOY:
In my last FREE YouTube video on 11/8, I said to be careful of a push back to the “discount zone” for bears before rolling over to new or equal lows. I said to be careful of a weak volume push back with decreasing spreads, and you can see that is exactly what we got.
I said if that happened we would make either new or equal lows to the 11/7 bottom. Most likely in a corrective “A, B, C” style move. The implied move here would have been to 587 as shown in picture 2. You can see we came just a few points away from that target.
The only question in my mind is the correction over, or do we have a “D,E” move left to key support. The average pullback in the market are usually in the 8-10% range. Over 10% is an official “correction”. This most recent one is roughly 7.5% so I think it’s more likely it is over and we push overall into the EOY minus any surprises. Also since these thrust upwards are usually pretty shallow in the “D,E” move, we are well above those targets in after hours.
The uncertainty of the lack of rate cut has already been the main driver behind this move IMO, NOT the government shutdown. Now that most are expecting no rate cut in December, any data pointing towards it will be a welcomed boost.
Everyone crying about bubble this and bubble that and MOST if not all these names just saw 30, 40, 50% haircuts in this pullback. Nuclear, quantum, aerospace and crypto especially. So all the names needing the momentum and liquidity got smacked. As they should.
If this gap up holds tomorrow, or better yet, we push most of the day, I fully expect new or equal ATH’s by EOY.
Now any signs of life or gap ups have faded the last 3 weeks. So it’s important for buyers to show up tomorrow. Sellers have been proven to be in charge until proven otherwise. We NEED to reclaim key levels with confidence.
I will be looking for:
-Good price action
-Crypto participation
-Volume
-Market Tide
-Calls coming in and puts selling off
-High beta names strong
-Most importantly $VIX flushing out
If you took the time to read this:
Thank you 🙏
Like, repost and share to spread what I hope makes some sense in a click bait world.