Collecting Loose Change in Front of a Steam Roller

The last few weeks you have heard me use that phrase nearly every day about being long anything that is market correlated...

 Here over 2.5 trading weeks of longs in the SPY are now at a loss. Even if the loss doesn't hold, they likely were already stopped out...

It's too early for a good 3C reading, but this heavy volume is common at an intraday reversal, we just don't have the bullish candle to go along with it. The market has been filling all gaps so "if" this gap remains as a break away gap, it will be very bearish, I have a feeling the market won't hold this size loss this early, but for a lot of the longs, the damage is already done.

I'll update the market as soon as 3C catches up and gives a solid signal.