In such strong bearish biased period, bulls still manage to inch higher and close at high today, pullback is even shallower than yesterday. Daily chart is clearly bullish. There is still a bearish alternative, but even that will need to see higher near term into 4450~4485 range to complete a gartley first. So clearly bulls are winning, but with past fractal of quad witching day, I would still like to give benefit of doubt to bears tomorrow, and maybe it would even extend to Monday to give us a buyable dip as wave (2) of wave 3. I plan to layer in some calls tomorrow and maybe add more on Monday/early Tuesday depending on the structure. I still have my doubt on the current rally as I think Ukraine crisis is far from over. But chart is clear for now, and I have seen such things before, which people call it the climb of wall of worry. As long as Biden administration won't expand the sanction to China, I would think this would probably the case for the next weeks or even months. From next week, unless market breaks key report, I will mainly focusing on buying different dips although I will still buy some hedge puts here and there to give some protection.
Elliott WaveFractalGartley

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