SPDR S&P 500 (SPY)

[imiloa]

fwiw, given the steep plunges today,
esp the mid-bot-rally plunge post-fomc,
seems bears are still hungry.

and, after 3 strong rally days,
short-covering funds might take a rest
to let bears punch it lower,
so they can cover lower next week?

AAPL remains a FAANG wildcard rest of week.
but that'll be history by monday.

chart-wise, SPY closed strongly over the dsma200 today,
first time since plunging under it last week.

seemed a scripted bot rally to 423 today
but a candle's a candle,
and both bots and humans typically trade the chart.

and, ignoring ambient grim global news,
the chart looks like a bullish repeat of early oct bounce
back up to dsma50, currently ~433.

with xmas retail sales boost on deck,
and funds still heavily short,
probably a fair bit of short-covering ahead, too.
esp if the funds are aiming to punch higher EOY
to pump up their ROI figures for 2024 marketing.

no way to know how it will play out.
curious to hear all y'all's thoughts.