Quad Witching has provided the volatility needed to break the winning streak. SPY has seemingly found support near $115.75. In as much as I’m distrusting of that support based on very weak internals (it’s easy to see an eventual move to the low $115s) — it would be typical of recent action to ramp into the close, so I’ll respect that support for now even as I’m disinclined to switch long. Oh, and I have no idea what they are talking about on CNBC, volume has been huge — the re-balance trade may be contributing.
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