The institutional buying and selling chart (courtesy of stocktiming) shows a little more accumulation than distribution. I don't see much telling of the chart other than we're in range.
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My bias is new all time highs for SPY this month...probably before feb. 19th. Given the large number of bears, we might have the fuel to breach the upper bb next week, gap up and run. It is the bullish season.
bearish as of SPY 406 on 2/17/23
currently: end bearish as of SPY 406 on 3/6/23
$SSEC weekly.. some profit taking consolidation.. prior to the holidays.. starting this Wed Feb 18 for a week.. US exchanges closed next Monday. The exchanges seem to take the other one..'offside' when they have the holiday advantage.. fwiw.
DellGriffith wrote:My bias is new all time highs for SPY this month...probably before feb. 19th. Given the large number of bears, we might have the fuel to breach the upper bb next week, gap up and run. It is the bullish season.
VIX 4hr .. poised for a possible larger sharp move.. in a triangle of sorts.. be cautious near the 21.75 range.. if it pops up. Possible? to reach one of the targets near VIX options expiration, fwiw.