Market may want next TICK if strength continues. Strong buy dip programs today.

2nd that...made huge profit on SPX calls. Bought lows above 2d DVT w/ expectation of touch/ go day to fill gap. I use a blend of indicators to trade based on probability. 

Matt - Would be interested to see your guys' take on wave counts in next newsletter and where this pullback fits in. Thanks.

JNK/HYG forming small coil; down slightly today. Dont assume bearish; could be either way in this market phase.

Thought I should share an educational mishap of sorts...sold 414 SPY Puts at open Fri...worked great all day; SPY closed 414.92. Didnt close b/c thought it was far enough over to not be assigned.  AH Fri SPY dropped to around 413.6. Was assigned shares...was ok due to oversold price and premium greater than difference.  Could have closed Puts for $0.01 during day...sometimes its best to eliminate risk even if probability is low...

SPX 5min appears to be forming a tight falling wedge...

Yesterday looked like a B bounce rally, now into C with measured move to around 4180...will see if that area holds. I sold SPX puts expiring today at lower levels w/ these elevated premiums. 

CAT stretched on weekly and monthly charts…profit taking. I’m watching around 200d to see how it acts but being patient after run it’s had. 

Many S&P ETF ex-div dates after op-ex this Fri

GDX filled the gap...

Saw big positive flow in ITM SPX options I trade around 1:30 that gave heads up to end of day move. Lets see if it follows thru into tomorrow or beyond. Always interesting to see the footprints before moves happen.

I would also add that since its low float it has moved proportional to how often its mentioned on BPT.  Not saying its being pumped but volume has increased dramatically.

Matt - Could you post SPX cycles charts during this last hr when you have time? Thx

Steve (I assume) - Thx for adding 60min rising wedge. Wasnt on my radar.

Big SPX volume today on narrow range up candle + positive market indicators ST = typ bullish; options gamma keeping SPX pinned but could be explosive over breakline when contracts roll off tomorrow.  

Like the TICK extremes, I like seeing Matt/Steve's potential wave labels as it gives me a guide of market position for strategizing orders. Understood its dynamic and not always accurate.  Its another indicator you cant obsess over, but overall its helpful when comparing to my counts. Thanks for sharing guys.

TDA shows 68.34 and higher previous highs that Stockcharts doesnt, wild.  Ive also been monitoring that channel but will watch closer now. Thanks.

Interesting TradingView shows that pre-covid high and Stockcharts shows couple pts lower w/ all previous highs surpassed...even PnF shows a triple top bullish breakout.  BMY is a LT holding of mine and charts look good. Its typ a slow and steady mover.

KOlooks like a buy (57.5ish pre-covid high target); also weekly and monthly charts look great: https://schrts.co/PFmKyxKI 

Be cautious shorting pullbacks this late in the cycle, unless your nimble. Still gas in the tank to take market higher; the time will come to be negative but not there yet. Plenty of positive signs in the technicals, aided by short covering rallys. Fundamentals are another story you cant trade off. 

Investors still have one foot out door...should lead to higher indexes.