Posted Yesterday 10:12am
Take a good look at the SPX volume for 5/21 High of 1529.87, last day of extreme volume. That is also a compelling for a retest. I don't come up with a 1509, you must be looking at the contract volumes. AND, note that this last a to b was 1532-1505, and today's high is 1521 or .618 of that move. So if we go much higher, ABC down is cancelled at 1529.87 here we come.
Confirmed on the SPY after market close yesterday: (posted 4:42PM)
This chart is also consistent with 1530 test...
http://bigcharts.mar...&mocktick=1.gif
You can see the stealth sign of strength, with greater volume unable to penetrate Friday's light volume low... and on this chart a quality of volume move has started off today's low...
Posted by OEXCHAOS (Believe SP Futures lead the market) Yesterday after the close:
Next time we get a nice set up, if I'm around, we'll try this exercise again.
All I can say is that it was quite a setup but there was ZIP in that futures chart that could have led you to this conclusion...
SPX Cash RULES !!