Smart by half, as they say.
Note on the chart that even though THEY pushed IWM, and others, pretty hard today, the RSI did not reach 70. This suggests more upside before any kind of give back. And with a higher close on $SPX at 1342.84 we now have both a higher low and a higher high. This is how rallies are built. We are also six days beyond the 90% up day from the 6th. If we’re going to get a legitimate IBD-type follow-through day then the markets should give confirmation of this by Wednesday or Thursday of next week. It will take a major rally of at least 2% to confirm per IBD’s criteria so watch for that next week.
Interesting that Max Pain for the QQQ was 63 today. Took them all day to get there, but they got there just the same.
Still watching from the cheap seats with no plans to chase the market and get back in so in the near future this site is probably going to get pretty quite.