SPDR S&P 500 (SPY)

[USDollar]

they hurt but only if you want or need or use them

from experience I saw that when a paint job happens it usually is given credence by price action (as if a beacon or mark has been placed, but we call it paint job)

• so if a gap up occurred followed by a fake fill, then price will not fill that for real (gap considered filled)
• so if a fake spike reached 267 , then price will consider that high for real (upmost resistance) and price will get there for real later on (to "challenge that resistance")

I have seen this many times

So by this observation SPY is unlikely to fill this gap for real any time soon. But even if it did who gives a sht about that, it's too shallow a retrace at this moment, jmo

I think another thing they want to accomplish (and they do) is to get traders angry (about fake paint jobs) and therefore less capable to focus on the trading (increasing odds to make mistakes and bad trades)