Originally Posted by r0wr
There is clearly a reversal bar today formed on the SPY daily chart just as well. I still think there's another leg up though. We've had 5 straight red Fridays just as well.
My current take is this rebound ended today after the intra-reversal. Estimating the SPX to fall from 1315 down to 1265-1215 region, then another leg up that would take us past 1340, with a target of 1340-1400 (possibly). All relative and will probably change as trading continues.
My boys, HiSam and Rowr, what are your thoughts