Zone to zone shows rejection around the 400 area, leading to eventual down trend. I expect it to ride back down to the <389 area, breakthrough, and retest 380. Looking for zones low 370, but a key level has been spotted last year at around 366, then 356.
Recession is over, everything is bull, everybody is happy, puts are getting bought out, the market is back baby, VIX is now dumping. Maybe another dollar or so, but my very low is around 25.71. No significant zones in between.
Futures rallied up hard, expecting it to reach 3990-4000 relative to SPY, but buyers were quickly exhausted, no more buyers present at the 3950 range, and it's not looking so good in the 3925 area either. Price targets aim to be 3888, 3836, 3714, being rather conservative, because we are quickly entering uncharted territory.
