Not Much I Can Add, Here’s Something of a Recap

No significant changes to my main thinking.

$SPY got a perfect touch (earlier in the day it was “close enough”). But now it’s definitely touched the lower rail of its huge bullish wedge:

SPY

And the proposed Wyckoff accumulation still looks good as a “spring” here:

ES

It is nice to see an intraday reversal, but it’s not required. And in a “crashy” environment, that can also sometimes be bad, as short covering into the close can be dumped on over night. So, if we were going to have an intraday reversal, it’s best to see one earlier in the day anyways. We will have to see if Apple needs to go lower or not.

We’re pretty far outside of our Bollinger Bands, and it doesn’t like to stay that way, so let’s see what happens from here.


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