Opening Indications

Just as yesterday not even the fastest 1 min charts would confirm the F_E_D induced short squeeze which actually makes sense if you think about what 3C is tracking, buying to cover is not strong hands buying in an attempt to accumulate.

The same trend continues this morning...

 SPY still no confirmation on the opening action.

Same with the Q's, but it's also turning lower

As is the IWM

And the DIA.

I may consider bringing the IWM put position entered Tuesday to a full size position if price hangs in the relative area while 3C charts deteriorate further, I'll of course let you know if I do that before I do it.

GDX and NUGt, while performing spectacularly, are really starting to concern me about a pullback to fill gaps, although I love the short, intermediate and long term picture, the very short pullback could be sharp and with a 36% gain in NUGT right now, I'd have to think seriously about whether to take some off the table and re-open the position after a pullback.