still cannot fulfill mini target but I see bears are weakened too, so I'm neutral here. wait and see.
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Will provide a more complete analysis over the weekend – right now this move is in line with BOTH the major opex tops and also the two minor post FOMC tops that we got in Sep 07 and March 2010… It is also in line with March 2013 where we had a Thursday top and a Tuesday after bottom.
I am not sure why the RUT is holding on to its highs while the MID and SPX are correcting in line with historical patterns….
This will be one of the larger down days for SPY during a QUAD witch expiry since Jan 2007, especially when we are looking at potential tops – SPY was down .90 in March 2013 – and we had the Tuesday after bottom (yes, I realize that SPY has gone ex-div today) and I am including that in my calculations – for better or worse, ALL of my calcs are on the ETFs as opposed to the indices, as I can then use Money Flow as well.)
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Like to read more of my commentaries? Please subscribe my Daily Market Report. Subscribers can find all the members only posts HERE. StockCharts members, please vote for me HERE, thanks.