source avatarPeter DiCarlo

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$SPY had a really good day, just like we anticipated. Price was extremely oversold and bounced right off the Smart Money Zone. There's very little volume on the volume profile back up to about $760–764. I think we'll probably keep moving up into tomorrow and the rest of the week, about another 1%, before a potential rejection. As of now, I'm still very bullish on the market. We never broke the $727 swing low. We covered the worst-case scenario at the start of the week, but we don't have to worry about that unless that level snaps. If I were trading this market very short term, I'd be pulling some risk off the table between $760 and $765.

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