SPY gapped up higher again and made a trend day.
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SPY 5m |
Now 20SMA is turned up and SPY is heading to 50SMA.
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SPY Daily |
RSI is still 50 so there is a plenty of room, however...
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$SPX CVI |
Climatic Volume Indicator is at 2σ level which is overbought in very short term, so....
It's no wonder there were lots of Put buying today. Everybody expects some degree of pullback. The problem is there are only two days for expiration and those put buyers have to react as quick as possible when the market goes south. I think the "pullback" will be very shallow.
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