The likelihood of a short, violent pullback is as high this coming week as it has been since the Covid crash of February-March 2020. That doesn't guarantee such an outcome, but it will be on the radar with the taking out of key levels on the charts below. I know, it rings familiar, but that doesn't mean its not ringing true. The weakness going into the close on Friday may be a harbinger of thing to come this week, or just another blip of a fake out before new highs. The takeaway from this update is simply to be on alert for market event to the downside and an across the board taking out of key levels will trigger much more aggressive short trades into May-Jun expiration. Absent such price action, we wait and look to other opportunities to present (see CVNA below). Charts & Key Levels DJIA SPY IWM Daily IWM 120 Minute QQQ GLD Bitcoin A bounce off of upward channel support would be good for any Jun calls that are still being held, but a breakdown below support would put this tradable into "Sell Pending" mode. Either way, a potential new trade is lurking in the future, this come week or next. Internet Chart of The Week: CVNA "$CVNA , an insolvent online car dealer, trades at $86 The market will sell FEDs political agenda months before the election and this stock will start dumping weeks or months before the market plummets… exactly the same pattern we saw in 2021." Link. CVNA 2021-2022 CVNA - Current We will look to buy CVNA Puts on the next red down arrow. Recent Trades
