!PMOBUYALL Chart- This is one of the charts I've been reviewing every night since I first saw it in one of the BPT newsletters last year. Today's red candle was 59 points long and extended all the way to the bottom of the chart, closing the day at zero. I couldn't remember seeing a candle like that before, so I looked through the history of the chart back to 1999. It has happened three times before today. There were 8 or 10  other times when a red candle that long occurred but did not end the day at zero. The three occurrences similar to today all took place on Mondays:

September10,  2018: The !PMOBUYALL candle was a hair over 50 points long. The previous candle (on Friday) was red and 70 points long, starting at around 83 and ending around 18. $SPX did not print an unusual candle on either of these days. Friday's was a white inverted hammer bottom ending a six-day decline of some 50 points. Monday's $SPX candle was a doji inside day. The market then advanced for two weeks, pulled back a bit, then made a double top in the first week of October. This began a ~20% correction into late December.

December 3, 2019: The !PMOBUYALL candle was 66 points long. The previous candle (on Friday) was red and 34 points long, beginning at 84 and ending at 50. The $SPX candle on Friday was red and looks to have been about 40 points or so long. The market had been moving up pretty steadily the prior four months, and that Friday candle began a 3.5 to 4% pullback. On Monday, $SPX gapped down and formed a hollow red hammer. The market then advanced some 200+ points over the next two months, where it reached our third occurrence...

January 24, 2020: This was pretty much a fractal of what happened on December 3. !The PMOBUYALL candle was 64 points long. The previous candle (on Friday) was red and 28 points long, beginning at 78 and ending at 50. The $SPX candle on Friday was red and some 50 points long. On Monday, $SPX gapped down and formed a red doji. The next two days were up, then $SPX pulled back and made a new low before advancing two and a half weeks before plunging off the COVID cliff.

These are only three data points. Of note is the fact that they did not lead to an immediate selloff. In two of the three times, the market advanced for a number of weeks. In the third, it advanced for two days (though that second day closed red), before pulling back.

Anyway, for what it's worth. We'll see what happens this time on opex Friday.