Replies to post #206799 on SPDR S&P 500 (SPY)

[photo4u]

I think back to 205 area is completely reasonable in the next 2 weeks.

[imiloa]

agreed on the "too far, too fast" in both directions.

seems very unlikely markets will rally a 5th day in a row
esp given any rallies from here means back to pre-brexit level.

re: weighted stocks, i've been watching SPY components.
XOM, JNJ are both OB now.
but AAPL, MSFT, WFC, GE, AMZN, FB, GOOG are all still en route to OB.

so theoretically, they could still track higher because algos start selling them.
but still seems a retrace is due before another leg up.

i loaded the boat with jul15 puts on friday.
we'll see tues whether that was a costly mistake... ;-)