Dec. 25 at 6:59 PM
$SPY How weird is it that the only way to watch Xmas day football is on
$NFLX and
$AMZN?
I'll bet few saw that coming ten years ago.
Actually though, well before that, Amazon began to stream content in 2006, Netflix in 2007. I suppose way back then a few figured it out, you know, what was coming.
The question today, which always persists, is what massively disruptive and highly profitable product/service is just now hitting the pipeline in the form of companies which will 100x and even 1000x during the next ten years?
Of course, AI, but that's like saying electricity 100 plus years ago. Creating it is a big deal, yes. But the bigger deal is what is done with it and who does the doing.
Keeping eyes wide.
In the meantime, for tomorrow and days ahead, we have this situation.
First off, way over on the left,
Item 1: An ath, yes, intraday 689.70 with a close at 687.39, and it was preceded by slop gap-central and then classic indecision candle to get up there and immediately fall back somewhat bloody red over the next week plus.
Item 2: A much more solid reach for ath, but couldn't quite do it. Maybe because the "solid" aspect was only two days in length following a week and a half or so frothy period following a run-up in the week prior which had significant solidity, followed by typical building indecision/need for reset, the froth.
Item 3: New ath. Some say double top, I say, eh...don't think so. For one thing, double top with what? The spiky weak red candle from 10/29? The 12/11 candle which was not a top?
Yep and nope. Yep to the nope of seeing any double top.
And, the 12/24 hod of 690.83 and close at 690.38 was not only a new "top," but an affirmation of it. Which tells me it ain't a "top," and we're going higher before reset.
So, for tomorrow I see a very strong chance at 694.56. Following that into next week, we'll see. The open and close levels above the 20 ema tell a little bit of the story there. I have tons of data on that but I'm still looking at it, seeing if I can do more with it than what I've done to date.
Ok...that was a lot of typing.
Merry Christmas.
