Last week was more of the same as tech stalled out - painting a weekly doji candle after rejecting the Weekly CE of the January highs FVG (again).
Last week also saw them pumping small caps and especially the DJI to 52 week highs - but its all the same setup as we see on NDX
The 3 horsemen looks ready to gallop higher, but we need VIX to get off its ass first hovering down here near LOY.
And Gold got a nATH close on the monthly chart for November - but to me this just smells like They are gunning for the highs to sell into
The Plan: No change from my perch - basically every asset class from meme stocks, to $ARKK, to indexes all soared higher in November right into a logical are of sell-side liquidity. The real proof of the pudding will be to be watching the 4h and 15min timeframes to see if we can see a honest reversal or not. NQ needs to defend 15k for bulls to have a fighting chance at all. We should have a clearer picture by the EOW - NFP is on Friday.
December will be VERY important. Everything looks insanely toppy, while the 3 horsemen look like they are trying to bottom. Tech is the weakest of the indexes and it tends to lead - buckle up for a wild Christmas season!
One thing I got TOTALLY WRONG here - I wasn't using the FRONT MONTH for my weekly chart - which changes things in the short term.
The /NQZ weekly lows were blown out into the CE of a FVG - we could start a parabolic rally to 16265 from here. I am hedged for upside risk, but I would not be surprised to see us run that weekly 16265 level before they tank it.