Quick SPY Update

 SPY 1 min-yesterday I wanted to see a pullback to see if 3C would behave like it is today, yesterday's lack of signals was certainly made up for today and by the way, the move below the APEX of the pennant would certainly do everything a head fake move is intended to do. Like I said in my reply email last night, this is an extreme market and whatever you think is probably reasonable-double that and you are probably much closer to the target.

 SPY 3 min today and the trend. While there have been a number of smaller divergence, all conveniently placed at areas that either form the pennant that would be VERY obvious to any technical trader, or the divergence is at the head fake breakout move. The trend of 3C overall during the pennant is what is important.

 This is the exact same chart above, just without all of my markings, look at the trend and a 3 min chart could easily move down to price by mid morning, it didn't, it remained near the highs of this entire pennant starting on the 18th.

A longer term.timeframe view-SPY 30 min, there's a lot of confirmation (I could mark every small divergence, but that' not the point), the main events are the May 1 top/negative divergence and the recent 3C trend on a 30 min chart, especially in the pennant area since May 18.