This is the way this is going to play out:
- The final line in the sand at present is 274.39 – has held for all of April and May. SPY keeps banging its head on it.
- If we get a close above that – clear sailing to 280.61 – the March 13th highs
- If that levy breaks – absolutely no resistance until we test the all time historical highs @ 286.90 -AND- if this level gives way? The S&P will never go down again. And we will get free money forever and ever and ever again. Buy and hold and sleep tight
- 270.62 is the 100 SMA current support which has held for pretty much all of May. Below there is a nest of support @ the 268’s levels
- Balance of Power (BOP) has been all white – therefore “retail”. This is showing us the entire rally in May is HFT bots and day traders. There is no institutional money flow coming IN to this move.
- Money Stream is horizontal and this confirms what I just pointed out about BOP. There is no “BIG” money behind this. Only scalpers and pikers.
- TSV is flaccid and in all matters is now a non signal
- Real volume is down to 62 M +/- on a 10 day average. In February 10 day was @ 195+ M – What does this tell you?
The most expensive prices you will ever pay on SPY is the first 8th and the last 8th. But wait, we don’t trade in 8th s anymore. So then the 0.125. I will leave you all to ponder that point.
KingCAMBO-
“You cannot recover three things in this life: the word after it is said, the moment after it’s missed and the time after it’s gone…”
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