Week of November 3

Are bulls in trouble.

Recap of last week

Had one of our best weeks all year. Absolutely nailed the turn.

We bought calls in late October at 6700 ES, and sold it last week at 6940 ES, 10 pts from the actual top tick.

We knew we were early and had conviction that bears were offside. So we took an ES long on top of the call spread. We entered at 6825, and exited at 6937, 16 points from the all time high on ES.

Lastly, we had even more calls on, as our risk reversal we put on in September was last marked at 8.85, from our entry of -0.10.

We had 0 losing trades.

We are swinging one trade over the weekend. Friday was a bit disappointing for bulls considering great Mag 7 earnings, should bulls be worried here?

Next move for markets