To The Moon

I am BULLISH on $SPDR S&P 500 ETF Trust(SPY)$ for now. Here's a look at its daily chart: The stock closed above its 5DMA, which is a level it lost after the November CPI print was released a few days ago. This suggests a near-term trend reversal is inbound. Furthermore, the ETF appears to be forming a double bottom "W" setup around the high 370s-low 380s level, which suggests that a retest of 400s might be coming in the coming days and weeks. Moreover, the ETF is once again trading at the lower Bollinger Band, which suggests that at some point we will get a trend reversal to the middle BB (something like mean reversion). To add to that, based on historical data, the final trading week of the year tends to bring about a "Santa Rally" phenomenon where the market closes green. It is very likely that we get a positive move in the indices. The Fear and Greed Index is at 39 (Fear) while other contrarian indicators like the CBOE Put/Call Ratio are relatively muted. So, how do we trade this? You can get SPY calls or shares next week at open or on any dips expiring 3-4 weeks from now. I anticipate that the market will be in buy-the-dip rally mode for the next few weeks, with 3835 being a magnet due to the active $JPMorgan Chase(JPM)$ collar options strategy that they adopted. Good luck everyone! If you enjoyed this post, then leave a like and/or a comment on my post and follow me for more of such posts! @TigerWire @CaptainTiger @TigerStars $Apple(AAPL)$ $QQQ(QQQ)$ $Tesla Motors(TSLA)$ $Microsoft(MSFT)$