no data being displayed on nope chart today. The download shows data being collected but the GEX is showing -INF for infinity I guess. @nopecharts@unusual_whales
Before I depart for the day (I'll be back at the close) as I need to write a paper on 'Post Modernism' for another graduate degree I'm working on (crazy I know). I want to offer what I think are the 3 "most likely" scenarios that will play out for $SPY.
1. $SPY rallies to the 200 dma in a couple of sessions, then falls back & makes a higher low around $554 then off to $593 minimum.
2. $SPY rallies to the 200 dma in a couple of sessions, then falls back to make a double bottom at $551-ish then off to $593 minimum.
3. $SPY rolls over on Monday, fails to reach the 200 dma & heads to the high demand zone of $535-540.
4. (least likely IMO) it just V bottoms & heads to new ATH's.
Rapid decline indicator w/ NL reversal bar triggered on Friday. This trigger has caught the greatest bottoms in the last 20 years, but at the same time there are several of the bounces that did fail later in time. Wild to see the following triggers Fri Mar 6th 2009, Fri Aug 27th 2010, Fri Nov 16th 2012, Wed Dec 26th 2018, Th Sep 24th 2020, Th Oct 13th 2022, so keep that powder dry if we get a good bounce and roll back over.