There is clear resistance at the all time high from previous price levels.
Unfinished auctions below, but good fundamentals have me thinking it will dip, as it did today, where I traded a Put Debit Spread and made 70% on top of my debit.
Above average amount of new short positions have been reported.
I believe what we are about to see with INTC and across the broader tech sector is a bit of a correction and some consolidation.
We are at all time highs, the only problem is that the bears don't seem to be willing to give much more ground on SPX/NDX. Buyer exhaustion/Absorption will set in soon, in time for the new year. I remember falling hard last year in early January after December highs.
I am bearish on INTC until Jan 14.
I'll probably use a double diagonal option spread as volatility could pick up on me and I want to stay vega positive.
Unfinished auctions below, but good fundamentals have me thinking it will dip, as it did today, where I traded a Put Debit Spread and made 70% on top of my debit.
Above average amount of new short positions have been reported.
I believe what we are about to see with INTC and across the broader tech sector is a bit of a correction and some consolidation.
We are at all time highs, the only problem is that the bears don't seem to be willing to give much more ground on SPX/NDX. Buyer exhaustion/Absorption will set in soon, in time for the new year. I remember falling hard last year in early January after December highs.
I am bearish on INTC until Jan 14.
I'll probably use a double diagonal option spread as volatility could pick up on me and I want to stay vega positive.