11/25/25 Recap

The SPY is back over the 21 ema and the 50 day, it is either going to push through this and things will be bullish or it is going to reject here and we probably turn back to lows from 3 days back. You can see a clear series of lower highs forming from the 689.7 high unless we close up above the 21 and start pushing higher. It would help if the largest component in the market, NVDA, quit dropping so hard, it’s now down 15% from its highs after earnings last week weighing on things. Keep an eye on the close today, that is all that matters now, we don’t want to see a reversal and close back under the 50 day.

My Open Book

I made zero trades today. Not much I want to change, just focused on getting to December opex, the only trade that is really at risk is TDW but I’d say if that dips more I’ll take the loss this year and roll the short puts to something lower and further out for a credit. This is a slow week I’m not going to take the market action as much of anything.