A whole lot of nothing yesterday and it's looking like today will be the same. It's not looking good for a breakout from this bull flag forming to happen by tomorrow, so I'm now thinking they will used the 3 day weekend to release some good news to cause a panic move up for a squeeze on Monday, instead of down. The really deep drop should still happen in the week of the 28th, so while I would love to see a final squeeze up tomorrow it's looking less likely. No squeeze = no short, for me at least.
There's the FP on the SPY at 586.86 from several weeks back, and while that seems like a crazy level to hit, it's very possible if some really good news comes out to cause it. Since the "putting on of tariff's" have been blamed for the big drop, any "tariff deal" should cause the opposite. Maybe Trump gets a deal with China over the weekend... who knows what it is? But we have an obvious "cup and handle" pattern that's forming now, so a breakout could easily take us up to the FP on the SPY, and that's roughly 5900 or so. We'll see.
Have a blessed day.
