I just trade what I see. At some point, retest of support...

I just trade what I see. At some point, retest of support somewhere, getting set when everyone is getting bullish usually helps me. I still hold OTM calls which are just starting to see signs of life at these levels so if XJO goes even higher Im good. If it falls Im good. Just waiting for that inevitable pullback to go all in full bore smooth brained bull.
wrt theories, some say the 1st trading day of the year sets the direction for the rest of the year, Id say its all irrelevant/short term noise. CBs bringing rates down to 0%, markets went up. CBs raised rates from 0% to 5%, markets went down. Any person in charge of other peoples money that didnt at least offset stocks with puts, etc when the CBs came out and said 'we are raising rates" should be sacked. Market declines were expected and highly telegraphed to markets but everyone wanted to hear pivots and recessions and stuff. Now, CBs have done the raising, for the most part and even if inflation rises, CBs will hold off raising further in the main. That gives the markets around a 6 month window to rise before any bad news gets taken as further rate rises or cuts. Cuts will be bad. Any further raises will be negative initially, but be supportive of higher equities over the next year. I expect rates on hold for the next year. Time will tell.







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