$SPY $ESF $QQQ $IWM - Daily Chart Update w/ Targets & Analysis

Friday looked as if we put in the low finding support, but put premium was still pouring in. From a TA perspective, The 4 hr candles and daily have not completed SOW, which leads me to believe a retest of lows Tuesday is likely. I'll add, we had 63M in put premium on Friday and net deltas -11,119,797, that's just obscene.

It looks like Tutes closed short positions at the 186.47 level - signaling a long then. I expected us to flush into close to complete SOW, but we bounced. 1 more day of selling should lead to a ricochet before the next serious move up.

For those expecting ATH's, you can forget about it. This is a bear market with a lot of overhead supply and trapped bulls. Moves up will greeted with selling hoping to BE. Best case scenario is that 2063.75 level. (As I see it right now - could argue we get one more upthrust aka UTAD)

I took a small short on bounce AH Friday expecting move down on Tuesday. If up Tuesday, target is 1923.50 -1927.

Personally, I think we fill in that lower shadow on the daily, then bounce. I'll update the targets as I get more data, small deviations. Regardless, we're targeting 1950. So if you went long, just sit tight.