So, as I stated before, when spy was around 429, I said resistance is at 438 and low and behold not only did it hit 438 it actually went to 439 and that’s when I began to short the market. Remember be early to the party do not be the last person there Clearly what happened yesterday was not because of the fear speaking it was just something that was bound to happen sooner or later you must understand that 90% or more of the market is controlled by the wealthy. So what happens now it’s pre-market and we are back at 435 and incredible area of support Thursday this afternoon. Maybe the day where Speyer could potentially break this support and hit down even more as we go into witching on Friday to conclude this post the only thing that’s keeping Spy afloat is tech. Not to mention the Fed said later on this year they will increase rates again. The next witching dates are in September and December as I’ve seen time and time again when everyone is greedy, look elsewhere, and when everyone is fearful, look elsewhere..
