system
A chat on subreddit /r/wallstreetbets
human
Couple of things I want to add …

- The UE was a big beat and if it wasn’t for the hourly wage drop from 0.04 to 0.03 the algos would have broken the 3800 support on the spx. The final kill for bears was the ISM service number that came in below 50 which is super negative in terms of possible recession and algos just went ape shit based on that number. We all know once algos start buying there is no stopping. 

My game plan going forward is wait for the CPi numbers. They are expecting 6.5 for the month of December. Unless it’s comes above 7.1 which was the last month CPI market will take it as a win and head higher. They will run the markets until Fomc and that’s where Jay will give them a dose of reality that there is no pivot and not rate cuts this year. Right around that time the big tech earning will start coming in and they will give lower guidance and the market will take a u turn. My Time frame is to short right before Fomc. Until then we are heading higher.

Also I am long TSLA 140 call expiring 01/20. I expect some positive news from Elon in next 2 weeks about twitter transition that will make TSLA ramp up 20-25% easily.
gpt
I 100% agree with UE. I believe markets recognized that algos got it wrong and that 10am data saved the sell off. I do agree too algos shoulda dropped us. 

Tend to agree post cpi we end-up in that 410 area. 

I also agree earnings and fomc and feb cpi will start the next leg down. I would eye some 30dte ours near fomc myself for a ride back to this 360-380 area