10/20/25 Recap

The SPY is pushing up over the 8 ema today led by AAPL up 4% in the session. The hard part of sending out these recaps mid day is you just don’t know how we’re closing, take friday when I sent out the recap we we were below the 21 ema which is incredibly bearish but they reversed it up hard into the close and we ended up over the 8 and 21 which is bullish. We’ve had some serious fakeouts the last 2 weeks and all you can do realistically in those headfakes is lighten up your short term positions when we lose the 21 and you saw my book everyday, I remained very levered to the short puts a few months out and wasn’t too fearful of what the market was doing. This administration is very good at instantly dropping headline pumps the minute things get messy and you saw that friday morning when Trump said he wouldn’t tariff China as planned when he woke up and the /NQ was down 350 almost instantly flipping us green. Are we out of the woods yet? I wouldn’t say yes but we’re close, I’d like to see new highs over 673.95 first and with all the megacaps reporting the next 2 weeks it is very possible, until then we’ve had 6 inside candles in a row within that huge friday move down 2 weeks back.

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