We May Be Nearing a Blow-Off Top, But I think We Have More Juice Left It's been an interesting ride lately, and I’ve mentioned before that we’re on the cusp of something big — what I think could be a blow-off top.  Now, what exactly do I mean by a blow-off top?
It’s when the market, after an extended rally, surges to new highs in a very short period of time. It’s like the final sprint in a marathon, where prices shoot up dramatically, often driven by FOMO, momentum and a flurry of short-covering.
We’ve seen this kind of thing before, and I think we’re primed for another one.
Right now, we have a few key things lining up that make this scenario likely. First off, we’ve got massive options expirations happening today — $4.5 trillion in notional value.
That’s a lot of fuel sitting on the sidelines, and when it burns off, it’s going to create some serious volatility. Most of it already cleared the books this morning, but there's still a big chunk expiring at the close today.
These big options expiration — OPEX — days tend to be turning points, and they could easily push this market higher.
We were also sitting just below the 5,750 level this morning in the S&P 500 futures. We hit 5,733 on Thursday, so we’re close, but not quite there yet.
And let me tell you, when we do hit 5,750, it’s going to be a critical point. There’s a chance we could blow right through that level and hit 6,000, but first, we might see a little retracement — maybe even filling that gap around 5,620 that I’ve mentioned before.
But don’t get it twisted: I think this market has more juice left.
We’re seeing signs of a mega rally, particularly in the big tech names. Nasdaq is flirting with a breakout, and if that catches momentum, we could see a major melt-up across the board.
And remember, once this blow-off top gets going, it can go a lot faster and further than anyone expects. I’m not saying it’ll happen in a day, but when things line up like this, it’s often explosive.
Now, let’s talk about risk...
If you’ve been following me for a while, you know I always have my eyes on the downside, too. Sure, I’m bullish right now, but I’m not going to ignore the warning signs. We’ve got a few gaps below that need filling, and if the market fails to hold these key levels, we could see a sharp correction before we head higher. That’s why I’m always cautious — because things can flip fast.
So, what’s the play here?
Stay nimble. If we get that blow-off top, it’s going to be a wild ride, and you want to be ready for it. But if the market starts to crack, don’t be afraid to cut your losses.
Remember, trading is about managing risk — ride the waves when they’re in your favor, but always have a plan for when things go south…
Because they will.
I’m keeping a close eye on this market, and I’ll keep you updated on any big moves.
I’ll also be live at noon ET today with Roger Scott to show everyone how I’m finding 50% moves and sometimes even more on tiny moves on the underlying stock — multiple times a day.
These moves can happen in 60 minutes or less, and I can’t wait to share with everyone!
Things are about to get interesting — go here at noon! Jeffry Turnmire
Jeffry Turnmire Trading Follow along and join the conversation for real-time analysis, trade ideas, market insights and more!
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*This is for informational and educational purposes only. There is an inherent risk in trading, so trade at your own risk. _______________________________________________ Capitalize on the Movement Occurring Over the Next 72 Hours
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Obviously, Lance cannot promise future results or shield against losses… _______________________________________________ Today’s Daily Chart Setup: Franklin Electric (FELE)
 This idea came directly from my Daily Chart Setup that automatically signals potential plays. - FELE is a new potential entry. Target: 110.62 Stop below: 92.01
- FELE has a historical win rate of 90.0%
- FELE has a profit factor of 3.898
- FELE trades last 91 trading days on average over 30 trades since 1972.
This is for informational and educational purposes only. Trade at your own risk. Always remember that past performance is not indicative of future results.
How the Daily Chart Setup Works
Here’s a more detailed description of how the pattern triggers: 1. The price breaks upward through the orange Market Roadmap Line.
2. Then the price goes up and down while staying above the line. Eventually, it comes down to touch the line again — this could take days, weeks or even months.
3. Once it touches the line and starts moving back up, that signals an entry. I use Fibonacci levels for for profit targets and stop losses, and these two tools combined have helped me achieve a 77% win rate over the past six-plus years!
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