thanks for the post . . . If we close up, do you expect a strong rally? if so, what is the time frame? days? weeks? As per your feb analogy, after the bottoms, we ran up relentlessly for over 2 months. I suspect that is not what you are thinking . . .
what is your short term forecast? I also think we see a reversal soon, but any reversal will likely be short lived. This kind of distribution is unreal
That's a sign that we are close to a bottom now. All the retail traders are going short near the bottom. This tells me even more that we are likely to sell hard in the morning and reverse into the close… trapping all the new put buyers.
Wow Gang… what a great day! Let's see if 100.72 spy gets hit tomorrow or not? Just be prepared for a hard reversal at some point… where I don't know? We could go to the 991-994 spx level, or only the 100.72 spy level. I'll probably NOT go long, but instead just close out my shorts.
thanks for the post . . . If we close up, do you expect a strong rally? if so, what is the time frame? days? weeks? As per your feb analogy, after the bottoms, we ran up relentlessly for over 2 months. I suspect that is not what you are thinking . . .
what is your short term forecast? I also think we see a reversal soon, but any reversal will likely be short lived. This kind of distribution is unreal
That's a sign that we are close to a bottom now. All the retail traders are going short near the bottom. This tells me even more that we are likely to sell hard in the morning and reverse into the close… trapping all the new put buyers.
Mucho put buying into the close……
Yes, congrats all!
Very good point.
jim
Wow Gang… what a great day! Let's see if 100.72 spy gets hit tomorrow or not? Just be prepared for a hard reversal at some point… where I don't know? We could go to the 991-994 spx level, or only the 100.72 spy level. I'll probably NOT go long, but instead just close out my shorts.
Good call! That is exactly right!!!!!
Bear shake out, for those that went short at the break of 1040 area.
As long as we stay way below the open. Lets get real folks.
This is a riot.
from 1036-1043 in last few minutes attempt to make it looks not so bad.