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Week of December 3rd

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!

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Justin Caraway
Justin Caraway
Dec 05, 2023

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.


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Justin Caraway
Justin Caraway
Dec 05, 2023
Replying to

We need to spike that level by Dec 15th - as we will roll to the March Contract and its already swept old highs last week for ERL


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