Waves aren't measured properly, this is a general thesis on the pivot / timing of pivot of this leg up.
"Stocks could rally in December..." - Jim Cramer
Dec 1 is Monthly Rebalance Dec 16 is Monthly Opex
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This would be scenario 2 in which the top is marked by OPEX.
Market is moving up based on 0DTE calls, with a severe gamma wall at 4200. This could drastically change post-OPEX. While the initial chart appears correct, I'm expecting options market activity to reflect a more bullish sentiment heading into OPEX in this scenario 2.
Be flexible, hold strong opinions, but hold positions lightly.