Now - we all know at this point once I favor a count it goes the other way. So be smart...
What I am seeing is Friday was a 3 of a 3 of a 3. It is more clear on ToS because SPY trades 24/7 on that plat, but you can still see it here. That monster move very well could have been low volume manipulation though and it was Friday (Weekly expiration). Plus a big big player had 4450/4700 SPX spreads expiring yesterday so they may have gone for the gamma squeeze (huge spx call buying) w/ time to pump their position up. There was a lot of SPX call premium yesterday, so that is very well possible.
Enough of my rant...
That move up still feels 3 of 3 of 3 - so I think we are extending here to ATH's and then we are going to peak for a wave 1 and get another sizable flush. Time will tell
Bears - you need to reject this and not let it get above the downtrend line. Over that line and 99% sure bottom is in for the 4.
Bulls - keep doing what your doing and buy all dips
What I am seeing is Friday was a 3 of a 3 of a 3. It is more clear on ToS because SPY trades 24/7 on that plat, but you can still see it here. That monster move very well could have been low volume manipulation though and it was Friday (Weekly expiration). Plus a big big player had 4450/4700 SPX spreads expiring yesterday so they may have gone for the gamma squeeze (huge spx call buying) w/ time to pump their position up. There was a lot of SPX call premium yesterday, so that is very well possible.
Enough of my rant...
That move up still feels 3 of 3 of 3 - so I think we are extending here to ATH's and then we are going to peak for a wave 1 and get another sizable flush. Time will tell
Bears - you need to reject this and not let it get above the downtrend line. Over that line and 99% sure bottom is in for the 4.
Bulls - keep doing what your doing and buy all dips