Yesterday was a one-hit wonder for longs. Today was pretty ugly.
The market is showing who’s in charge.
The $SPX broke through support levels at 3,850 and 3,800. Next support is at 3,744.
Here are today’s trades:
- I shorted $TMUS at 139 and covered at 138.50.
- I shorted $CAT on Dec. 21 at 239.57, 240.10, and 241 and covered today at 239.01.
- I shorted $MCD at 265.46 and covered at 264.43.
- I shorted $WYNN on Dec. 20 at 81.10 and covered today at 80.15.
- I called out $DIA short at 329 and $MCD at 265.50.
I have open long positions in $IWM, $ARKK, and $SHOP and open short positions in $CLX and $MMM.
I wasn’t aggressive today. I just sat tight.
Tomorrow begins the period for the Santa rally.
We shall see.
All Star Charts Team