I SPY a market that has made a high
Basis the late October low, the RSquared for the SPY is .945. Has gone pretty much straight up from .84. If we get a print of 507 by Wednesday that would be a lower RSquared and perhaps indicative of a proper, possibly severe, break. This can also be seen as a 4:1 containment ratio basis early November. Either way, untenable. Should be an interesting week.
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