One of the most reliable contrary indicators for sure.

Yes, pretty obvious but definitely worth mentioning (thanks!) but the bobble-heads will really start talking about it if & when $SPX is rejected off that previous high (or thereabouts) and clearly starts moving lower where the double-top starts to become clear to all.

There’s been a decent lift in $VIX lately but you are right, not really reflective of the 2024 drop so far but then again, the $VIX derives it’s calculation from put & call buying on the S&P 500, not the Nasdaq 100 (with the former falling less than the latter so far in 2024).

I favor a tradable bounce in the market off today’s pre-market lows (/NQ second price target hit) and then the next & larger leg down in the market, in which the $VIX will start to really wake up (assuming I am correct on my market outlook).

I think those JPM puts will pay off, especially if you went out more than a month although with /NQ hitting my 2nd price target in pre-mkt today & my current “high probability” of a tradable rally off that level, a rising stock market (assuming I’m correct) is likely to provide a tailwind to JPM & the other heavily indexes stocks. Again, a big IF but daily chart screams imminent trend change in JPM from what I see. G-luck!

AAPL is only a bounce trade for me. A Tinder date, if you will, vs. match.com (marriage).

Correct. TC2000 is my primary charting platform although I run several other platforms on multiple monitors as they all have their pros & cons.

Sure. Here’s my 120m (2-hr candles) of /RTY. Other than the recent divergent high & subsequent drop, the most significant recent technical development is the fact that /RTY & IWM has solidly failed (fallen back below) the recent breakout above that key year long+ trading range (as I predicted it would in recent videos due to the technical posture of the chart).

Small divergent low in /RTY right now & with /NQ hitting my 2nd price target today where I strongly favor a tradable bounce, the small caps will most likely rally as well (assuming I’m correct) although the recent false breakout will likely have longer-term bearish implications for the small caps.

Good luck JM.
Cramer can be the kiss of death to a stock.

One good thing happened…Santa Claus rally was a bust this year.
(last 5 trading days of the year and first 2 trading days of new year….down)
So at least we don’t have to listen to the talking heads chirping about that.

tc2000