SPDR S&P 500 (SPY)

[koepkesd]

gleno, we had gotten oversold in the market, to many bears out there expecting a move down
we needed a stop sweep to cause some pain and clean out shorts before we can get another draft down
right now, it looks like we are consolidating and could have more up, however I am in puts as I had an order to buy puts at 43.90 and more at 44.27 which were both filled by the time I got to a computer this morning
I would expect a test 44 probably soon and to fill the gap down later this week