Thank you China! 恭喜发财 /88/ 新年快乐 Just as last night provided an opportunity to take a short trade, so too did nice support at SPY S1 with a falling VIX provide a long power bounce well back into yesterday’s range.
In fact, today’s lows remain higher than yesterday’s, making this day five for that pattern (so far). However, I think that asking for a higher high might be a stretch — but we’ll see! I hope everyone enjoys their long weekend.
