optionflow

$SPY H&S Anyone?

AMEX:SPY   SPDR S&P 500
152 2 6
At R2 on weekly and tagged the 1.272 fib ext. Open gap remaining at 218.18, but still lots of down side gaps. Monster put premium in option flow and VIX             at extreme lows could make for a big move.

My bias is to the downside and my most reliable contrarian indicator just went bullish equities.. - Gartman

Large OTM VIX             buyers could be seeking cheap hedges, but I doubt it. Dark pools unloaded at resistance.
still has crazy support at 212 210 215. i will see it only at 212
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is this a valid h&s pattern? i think once it broke 210 it invalidated this pattern... to me it looks more like it broke out of a bull flag... which is a bullish signal for the longer term.
snapshot
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