My 2024 SPX Price Target Has Been Tagged!

Ludicrous Mode! Some Position Updates; Market Structure IS Bullish, But...; and, Why China Is Right To Be Nervous About Trump

Ludicrous Mode! Some Position Updates

Yes, SPX $6010 price target has been hit. That was my call from many moons ago - with QQQ 504, which it is now firmly above.

So has my NVDA $148/149 target been hit - and with it a financed call spread set up over a month ago (DEC 115P sold against 135x148CS now up $8 ~8000%).

BUT: MY SMH 272.46 HAS NOT BEEN HIT SO THAT TELLS YOU HOW MUCH HIGHER WE CAN GO!!

TSLA, the stock, ran 50% since my bullish earnings prediction. It ran 32% just this week since my bullish Trump win prediction.

Pre-earnings TSLA bull risk reversal (Nov 15 $200P sold against bot $250C) I gave went from $2 to $20 in 24 hours post earnings, then to $40 on election day then $72 today. AND it still has a week until expiration. THIS is why we trade options.

Seems cute, now, how I had given a price target of $250 then $271 - warned of a pullback at $271 since that was monthly resistance.
Then this week I had to update to $300 PT and today $312. All the while I'm thinking: I suck at this! 

>>>Brent of SpotGamma explains why price targets just don't work in Ludicrous Mode!

Lots of spiking higher value stocks too, with many in S&P breaking out into new ALL TIME HIGHS - as highlighted under trading-room-notes - which includes several of my Trend Long plays like PWR, COST, WMT, PGR, CAH, ISRG, BRO, ETN...

USD is still targeting my 105.80 and 10Y yield softened below key 4.36, as 10Y2Y yield curve has started to roll over. Falling into inversion is when banks start to roll over - not likely before.

And with all  of this uber bullishness, I remind: There is no reason to short ALL TIME HIGHS!

And yet, with my SPX 6010 tagging today, I am very much on alert for a FAKE BREAKOUT = FAST FAILURE reaction post Nov expiry.

So I am looking for the risks. I have two glaring ones I want to review...