[Update1: Chart updated at close]I'm hearing "pundits" are calling for a pullback on this anniversary. I guess we're going to find out real soon if these so-called pundits are in fact all-knowing... There is no fundamental reason I can think of that would prove them wrong, but then again there is nothing fundamental about this market either! Therefore I'd be more prone to fade the pundits (as always)
For the last several days we've seen the market going up while TICK is going down. It's almost as if the underlying are being sold and the futures/spy bought (courtesy of the BIG 3). It's not safe to assume this is a bearish posture - what happens if at some opportune time the underlying shorts are covered (kind of like... SOON)?
Anyway, the above indicator is quite perplexing and all I can do here was highlight where it's registered similar readings. Draw your own conclusions.
