SPY: A Very Slim Chance to Fill the Large Gap

Market Review: $SPDR S&P 500 ETF Trust(SPY)$

(1) the opening gap down was so small and short-lived, which already cast doubt on the ultra-bearish theory.

(2) as I noted a few days ago--"if 6800 is broken to the upside, then it would signal a large W-3" to ATH. It looks like that will be the case now.

(3) I have updated my primary count in Bamboo Scroll #219, posted to SUBS on April 11th, which already adopted this new roadmap. That was posted before the failed negotiation.

(4) short-term, today's run is indeed wild and a bit unexpected--I was stopped out half of my 4/20 675 puts BE; & re-entered again mid-day near 6860 zone.

(5) the last hour's squeeze-higher only appears in two spots: either the 3rd of 3rd of a bullish leg, OR an extended 5th wave of W-C. Given tmrw morning's bank earnings & PPI release, I bet it would be the latter, which means the majority of today's gain will be erased.

(6) having said that, however, I have to warn bears that any retrace from now on, has a very slim chance to fill the large gap below, meaning, 6720 zone would stop any decline.

(7) I believe my SPY 675 puts will be profitable by 4/17, esp. with VIX-Ex on 4/15 & OpEx on 4/17. Anyhow, what a Crash-up over the last two weeks.

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It looks like that will be the case now.</p>\n<p style=\"text-align: left;\">(3) I have updated my primary count in Bamboo Scroll #219, posted to SUBS on April 11th, which already adopted this new roadmap. That was posted before the failed negotiation.</p>\n<p style=\"text-align: left;\">(4) short-term, today's run is indeed wild and a bit unexpected--I was stopped out half of my 4/20 675 puts BE; &amp; re-entered again mid-day near 6860 zone.</p>\n<p style=\"text-align: left;\">(5) the last hour's squeeze-higher only appears in two spots: either the 3rd of 3rd of a bullish leg, OR an extended 5th wave of W-C. Given tmrw morning's bank earnings &amp; PPI release, I bet it would be the latter, which means the majority of today's gain will be erased.</p>\n<p style=\"text-align: left;\">(6) having said that, however, I have to warn bears that any retrace from now on, has a very slim chance to fill the large gap below, meaning, 6720 zone would stop any decline.</p>\n<p style=\"text-align: left;\">(7) I believe my SPY 675 puts will be profitable by 4/17, esp. with VIX-Ex on 4/15 &amp; OpEx on 4/17. Anyhow, what a Crash-up over the last two weeks.</p>\n<p class=\"t-img-caption\"><img data-align=\"center\" src=\"https://community-static.tradeup.com/news/6ab2f9f9949e9aa80409c7075715b3d5\" tg-width=\"876\" tg-height=\"670\"><span></span></p></body></html>","htmlText":"<html><head></head><body><p style=\"text-align: left;\">Market Review: <a data-mention-id=\"SPY\" rel=\"noopener noreferrer\" class=\"teditor-mention\" data-mention-name=\"SPDR S&amp;P 500 ETF Trust\" target=\"_blank\" href=\"https://ttm.financial/S/SPY\">$SPDR S&amp;P 500 ETF Trust(SPY)$</a></p>\n<p style=\"text-align: left;\">(1) the opening gap down was so small and short-lived, which already cast doubt on the ultra-bearish theory.</p>\n<p style=\"text-align: left;\">(2) as I noted a few days ago--\"if 6800 is broken to the upside, then it would signal a large W-3\" to ATH. It looks like that will be the case now.</p>\n<p style=\"text-align: left;\">(3) I have updated my primary count in Bamboo Scroll #219, posted to SUBS on April 11th, which already adopted this new roadmap. That was posted before the failed negotiation.</p>\n<p style=\"text-align: left;\">(4) short-term, today's run is indeed wild and a bit unexpected--I was stopped out half of my 4/20 675 puts BE; &amp; re-entered again mid-day near 6860 zone.</p>\n<p style=\"text-align: left;\">(5) the last hour's squeeze-higher only appears in two spots: either the 3rd of 3rd of a bullish leg, OR an extended 5th wave of W-C. Given tmrw morning's bank earnings &amp; PPI release, I bet it would be the latter, which means the majority of today's gain will be erased.</p>\n<p style=\"text-align: left;\">(6) having said that, however, I have to warn bears that any retrace from now on, has a very slim chance to fill the large gap below, meaning, 6720 zone would stop any decline.</p>\n<p style=\"text-align: left;\">(7) I believe my SPY 675 puts will be profitable by 4/17, esp. with VIX-Ex on 4/15 &amp; OpEx on 4/17. Anyhow, what a Crash-up over the last two weeks.</p>\n<p class=\"t-img-caption\"><img data-align=\"center\" src=\"https://community-static.tradeup.com/news/6ab2f9f9949e9aa80409c7075715b3d5\" tg-width=\"876\" tg-height=\"670\"><span></span></p></body></html>","text":"Market Review: $SPDR S&P 500 ETF Trust(SPY)$ (1) the opening gap down was so small and short-lived, which already cast doubt on the ultra-bearish theory. (2) as I noted a few days ago--\"if 6800 is broken to the upside, then it would signal a large W-3\" to ATH. It looks like that will be the case now. (3) I have updated my primary count in Bamboo Scroll #219, posted to SUBS on April 11th, which already adopted this new roadmap. That was posted before the failed negotiation. (4) short-term, today's run is indeed wild and a bit unexpected--I was stopped out half of my 4/20 675 puts BE; & re-entered again mid-day near 6860 zone. (5) the last hour's squeeze-higher only appears in two spots: either the 3rd of 3rd of a bullish leg, OR an extended 5th wave of W-C. Given tmrw morning's bank earnings & PPI release, I bet it would be the latter, which means the majority of today's gain will be erased. (6) having said that, however, I have to warn bears that any retrace from now on, has a very slim chance to fill the large gap below, meaning, 6720 zone would stop any decline. (7) I believe my SPY 675 puts will be profitable by 4/17, esp. with VIX-Ex on 4/15 & OpEx on 4/17. Anyhow, what a Crash-up over the last two weeks.","highlighted":1,"essential":1,"paper":2,"likeSize":41,"commentSize":0,"repostSize":1,"favoriteSize":0,"link":"https://ttm.financial/post/553528581157352","repostId":0,"isVote":1,"tweetType":1,"viewCount":472,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":["SPY"],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":true,"length":999,"optionInvolvedFlag":false,"xxTargetLangEnum":"ORIG"},"commentList":[],"isCommentEnd":true,"isTiger":false,"isWeiXinMini":false,"url":"/m/post/553528581157352"}