SPDR S&P 500 (SPY)

[risk on]

The last period candle on the 60’ talks louder than anything in the immediate , and I am guilty of what the masses are doing , using AUG / Sept as a guide for what’s to come, and that is a fallacy .

Although , there are two gaps left above and daily oscillators are at close to all time lows, only bested ~slightly~ by the absolute lows of Aug 2015. But the biggest gorilla I see is that weekly slow stochastics are no where near OS, not even close in fact . So, plenty of room on the tank for a continued drop in the weekly fractal .

The nice doji Friday , along w historically low Oscillstors on the daily period , tell me we should see a strongish move back up toward OB in the immediate , even if Monday starts out rocky .

But, withnin thr next couple weeks I expect weekly oscillators to of started making a serious move toward OS.

Then again, as stated, history is no guide here, and there’s really nothing to stop SPY from going straight up to whence it came and post s new ATH straight away , in a straight shot. Since Everyone is still expecting more drop , especially with Tuesday’s candle , any up moves will see billions in puts sold , and THAT may be exactly the playbook for da boys .

Would it really surprise those who truly know Spy ?