AMEX:SPY   SPDR S&P500 ETF TRUST S&P 500 ETF USD DIS
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So it broke the melt up line but it's still in a rising wedge on the intraday. Computers are definitely still in pump mode, any drop has a fast recovery. Buying every dip.

I've seen the market break out upwards from a rising wedge (most notably AMZN ), so no guarantees, but like I said, if the market goes up tomorrow, I'm done shorting stocks except for earnings . Can't fight a melt up, even crappy stocks get a lift when they pump 90% of stocks.

Right now, it's back testing the melt up line....
Comment: Not surprisingly there's a late day pump. Even if the market gaps down, there's a good chance that the computerz will buy the dip.

I'm gonna let it ride until Friday morning. Funds will probably be buying on Friday afternoon as people come in late to the party.
Comment: First time in 5 days that the computers haven't pumped futures in the afternoon.
Maybe I'll make some money on my puts... really wish I hadn't got headfaked by the gap fill this morning. Could have done the same thing as yesterday and flipped and rebought at a higher strike.
Trade closed manually: I'm out right here for a small gain, futures made an inverted head and shoulders pattern. I think it closes the gap.

Could be a bear flag though, which means another 30 pt drip
Comment: Figures right? Gap fill.

We'll see if the market shows any weakness in the afternoon. Keep in mind tomorrow is Friday payday, when money flows into 401k plans.
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