So we had the double bottom in the SPX. We also held the long-term support line from the top. So on Friday when I see them take the market down, I count the candles up since the last pivot hammer. I get four candles. Of course many believe that the market is a short, since they’re so used to getting beat up. I hardly ever see a market top on the 4th candle of a setup like this. If ever. Of course anything can happen. So when those shorts wake up this morning they try and keep shorting, and the boys slowly squeeze them all day. You have to realize this is the 5th candle. This could go for 7. Options expire this month, and it’s quad witch, so the games are afoot.
We now have the SPX back over the 200dma.
SOX is over the 50dma.
TNA, USD and AEM ripped up today. Speaking of… XAU is setting a nice base up.
