We are very close to a triple top...They say, triple bottoms never happen, they always break on the third attempt... I wonder if that is to be said for a triple tops? If that's the case, and we break the third attempt, then we are heading to 37. Which means, more selling still...
But having said that, we could easily take a pause from selling, and rally on some overdo fed cuts, and head back to 21.
The fact that open interest in the FEB puts is lighter than normal, is a concern.. All the puts covered this week.
tb
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