WELL, the "TELL" might already be here. Pre-market seems to indicate the 263 area was defended, at least for now.
My only question is how far and how long does it last. It does NOT seem to be the start of a long rally lasting till January. I am taking a stab at it but will NOT be betting this move up. I assume a 4 to 5 day rally at the most. Now this is really bizarre for me. I had thought all along that the 18th would be the launch for a late holiday rally till January. NOW I see the exact opposite. this bothers me greatly. it means a down market in the biggest holiday season of them all.
I hope i am wrong come the 18th of December. A rally till then will mean I might be forced to buy PUTS at any sign of trouble.
Anyway, for now i sit back and watch the moves without betting. Perhaps i will get a clearer idea. Looking at this wild up and down moves this month is insane. Glad i made money figuring out enough of it to profit from.
In all my years playing this game i can't remember anything like it. I suspect any attempted clarification of a bear market will not be seen till after the holiday.
Good luck all. I will search for clues from any and all sources to help me figure this out. If i get an idea you will hear from me. I am all ears listening to anyone that wants to chime in.
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