Bears definitely felt the squeeze these past few days as we finally broke over 4140 on SPX and held. The squeeze was impressive to 4170 followed by a crack of the daily resistance of 4200! We'll see tomrrow if we come back to backtest 4140-4150 or continue the ride up to 4225.
SPX at a bearish point where if 4130-4140 doesn't hold, the possibility of dumping to 4100-4050-4000 is a strong possibility. Holding 4140 can see a test of 4200.
SPX 4100 remains the major flip point. Above 4100 we can see 4145-4150 and above that maybe test the daily resistance at 4200. With that in mind, it could get VERY ugly under 4100. A drop to 4000-3950 could occur if it doesn't hold. Good luck.
4160c were short today and 4150p for tomorrow. SPX came down to test the daily breakout at 4130. If we hold 4130, should get back to 4150-4160 tomorrow. If 4130 fails, expect to see 4125-4115-4100 below.
Market outlook for this week based on option volume traded on Friday April 28th. Decent chance for a 4200 breakout with a top at 4225. Break of trend below 4150 could invite 4100-4050.
SPX trajectory I provided to my group . We should see 4075 on SPX before any dump.
SPY Darkpool levels above and below as of Dec 13th close.
Wave 5 cycle to the downside: Wave 1 2800.18 to 2346.58 Wave 2 back to 2703 Wave 3 down to 2040 Wave 4 back up to 2300 (approx) Wave 5 down to 1800-1500 (approx)