Interesting week last week.
S&P went from the verge of a Bear Market to a breakout and gap up.
If a bounce off the top of this new Bullish channel
There should be a dip into Wed VIX expiry.
And then likely trap some bulls before testing the lower end of the channel
Followed by reversing on the Inflection Point / Gamma Flip area of 4363.
This time I think we could see some liquidations if plenty of bulls get trapped when aiming for the ATH.
Bulls defending the bottom of the channel would likely be rewarded with 1 way ticket to ATH for Christmas.
S&P went from the verge of a Bear Market to a breakout and gap up.
If a bounce off the top of this new Bullish channel
There should be a dip into Wed VIX expiry.
And then likely trap some bulls before testing the lower end of the channel
Followed by reversing on the Inflection Point / Gamma Flip area of 4363.
This time I think we could see some liquidations if plenty of bulls get trapped when aiming for the ATH.
Bulls defending the bottom of the channel would likely be rewarded with 1 way ticket to ATH for Christmas.
