2025: Crash, melt up or a bit of everything?

The answer is: I do not know.
And the truth is: nobody knows!

Nearcasting is hard enough, Forecasting is impossible. Embrace the uncertainty and stay present, step by step.

Right now, I am still 100% invested, the implicit dollar hedge is working well (my trading account is in Dollar, I live in the EU, therefore the implicit hedge, which is always on!), so no reason to hedge further.

Network Momentum is still looking fine, yes, the QQQs went down, but look at relative strength (red line below the chart, it is up!).

+ they hedged hand over fist —> GEX is in a buying zone, not in the hedging / selling zone. Still waiting on the buy signal (which would be GEX up and market down, not the case now!).

In my book, this is a totally normal pullback, just look at the charts, so many balistic moves.

Yes, the Dollar, strong as hell:

But do I know the reason, is it flight to security or is it because the whole world buys US Stocks and therefore needs dollars?

As long as I see hefty hedging on dips (GEX), network momentum (aka the Quads) stay green, I am not worried.

All right: Thank you for your support in 2024!

I wish you a merry Christmas and a happy new year.

All the best and best regards.

Andreas