12/5/25 Recap

The SPY finally got over last month’s highs today after PCE came in and calmed fears. We were pushing back to highs, then reversed, but until we get over the 689.7 level, previous highs, this isn’t anything meaningful. We are in a so so spot now, I’m still wary of things because volumes are low here recently into year end but you can be cautiously optimistic with us now .5% away from all time highs. This has been a really weird move up with the biggest component in the market, NVDA, not participating at all. I’m still scarred from Powell and his 2018 Christmas action that crushed the market right before Christmas and what he may do in 2 weeks so I’m going to stick to the sidelines for now and hold my short puts. Also this is not the best looking candle so far today, but there is lots of time left, bulls do not want to this candle today closing at lows as it be a gravestone.

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