$SPY to possibly breathe to 297.50 to rope in shorts (and squeeze bulls).
Green niner on both the daily and $ES.
The previous green niner on $SPY allowed us to retrace ~5%- if this were to happen again it would place the $SPY at 286- however I see this highly unlikely given the major psychological level at 300 and recent 200-day MA break.
Could be wrong of...
I believe we are set to retest the $86.11 level with the recent aggressive buying activity; though we did see a 6% retrace from last week's high's, similar significant sells (near term) in the 5-10% downward direction have been followed by 10-13% upside (and previous high's were broken in today (Tuesday's) session).
If the $86.11 level is cleared-...