Replies to post #59447 on SPDR S&P 500 (SPY)

[RCKS]

learning
I agree with you in some respects. I could see us tag 1270-1280 level Monday to meet max-pain stuff and then have a waterfall to 1170 in very short order. In the process, giving us a high Vix reading and give the wash out effect to set up a very good bottom for a good run.
The thing you can hear Art Cashin saying 'its what we needed.'

You could argue though that we have the bottom with the higher low this week. The divergence is there on the over50ma chart, its just almost too big to believe.