SPDR S&P 500 (SPY)

[GuTA]

I’m not a genius, but I’ve been saying on this board since SPX 2400 that bears better be careful playing for a retest of the lows. Since that time people here and elsewhere have kept trying to time the top of this move before it has exhausted. That’s how you go broke.

For perspective - the fed bought $625b over the course of a single week. That’s the equivalent they spent on their entire second leg of QE that spanned 8 months in 2010-11. They’ve also said they’ll purchase indefinitely. What more of a fed floor could one look for?

If you didn’t learn to not fight the Fed after 2008 you should consider not trading