Friday was a minor setback, put we're already on our way back up. It's a holiday week. There's no way the market is doing a selloff this week. For those that keep shorting/ wanting this to fall it is going to take a lot more than an algo drop like Friday. These will just lead to V recoveries since they can't take this market down.
If the market were to actually sell off, you would see completely different behavior. There would be volume and the move wold feel much different. It can't crawl it's way lower. It has to be violent and it also has to selloff the V attempts too. So something like this morning where the SPY and QQQ can fall a quick buck or 2 is just algo action and it will never survive.
This thing is kind of dragging out the run to 500 (QQQ) which is a little disappointing and it looks like it will stretch into next week.
If the market were to actually sell off, you would see completely different behavior. There would be volume and the move wold feel much different. It can't crawl it's way lower. It has to be violent and it also has to selloff the V attempts too. So something like this morning where the SPY and QQQ can fall a quick buck or 2 is just algo action and it will never survive.
This thing is kind of dragging out the run to 500 (QQQ) which is a little disappointing and it looks like it will stretch into next week.
