overnight gang, lets look at this daily spy chart

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the character of the market has changed. look at the size of the candles. recently all the recent candles have been elongated, we have large swings in both directions. this is normal for a corrective market. we have the staircase down, then the conveyer belt up - the short squeezes, the bears covering, the bulls flipping. high vix, basically.

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to all running man holders,

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don't worry. i am not holding running man pootz but today all bears got fucked a bit. this is what happens in a corrective market. large swings from high to low, low to high.

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I also want to point out volume. notice that the uptrend has been on decreasing volume. i'm not saying this is either bullish or bearish. what i'm saying is, when its an obviously bullish move, we have an uptrend with increasing volume. its not bearish, but its not an obviously bullish uptrend either. just chew that one for a second.

Lets look at a daily chart of the Q's

our low of day was right at our 100 day moving average (307). i said earlier tonight that i do not believe anything in the market is a coincidence.

follow this chart. we fell from the first breakdown candle high at 324.20 to a low of 297.45 (a 27 ish point move) and have currently reversed about 14 points (~50%) of that. just a data point.

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sometimes the market retraces itself. sometimes it drops 10%, reverses to about half the size of the move before going back down and creating new lows. sometimes it reverses to more than half the size of the original move, it can vary. and sometimes, it reverses and its a real reversal and leads to a big green rally.

but what i'm saying is, sometimes, its a fakeout. keep an eye on the volume and what we discussed about volume upstairs.

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and another note, just keep in mind that if this is the bottom and this is the beginning of the rally, we're not going to make it through all the resistances, the psychological levels, the historic levels, the nice phat round numbers, we're not going to make it through all that in just one big green move. there will be chop.