Snicker . ;-) yeah , perhaps bears are a little too quick to get exuberant here, but there is good reason to be upbeat for those with puts. First and foremost the Ten Year T LINE has proven itself solid resistance for now, 4 days in a row SPY couldn't break it, and of course the previous fed announcement day when price smacked into a concrete ceiling and fell all the way back to support. Second, SPY is still overbought on the one year daily, and the resistance formed Dojis have now been confirmed , still needs another down day to say pivot is here, but the majority of that confirmation occurred today. Third, today's candle, a sell candle to be sure. Shooting star / inverted hang man type candle at the top, but no matter what you call it, the long upper wick is what's important, occurring of course in overbought on all oscillator metrics.
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