Long 1 Jan 13 265 strike Put @ $0.19 and the main position: Long 1 Jan 13 300 strike put @ 1.16.
New position added: Long 1 Jan 17 297 strike put @ .56
Until Dec 27 is critical. General marker is 302, looking for a correction as RSI is above 70 . 302 is weekly support.
All of these trades looking to be closed in the next week.
RSI overbought and RSI also peaked before the market peaked in the 2008 crash – similar to this chart. Short term rally likely to continue, but not assured. Simply riding the wave lower in a weekly uptrend until support breaks at the daily and then the weekly supports and a lower high in between demand and supply. Even though 2968 appears to be traditionally strong support, may not take long position at support levels, only use for exit targets to reassess.