Crazy Ivan

For those who do not know, a "Crazy Ivan move in price is a shakeout of both sides of a price pattern, for a triangle like we have in the SPY now it's a break below or above the triangle first and then a break in the other direction hitting stops and limit orders on both sides.

I named it that after the movie "The Hunt for Red October" in which Russian Submarine captains were said to make abrupt U-Turns to "Clear their baffles", meaning to detect any sub that might be following closely in their prop wash that cannot be heard using sonar. Since naming it that, I've seen a few other sites calling the price move the same thing, I don't know if they came to it on their own or not and it doesn't really matter.

In any case, we didn't get any significant SPY divergence indicating such a move, just a very clean. clear bear flag that intraday technical traders would expect to break lower, instead it seems to be pulling the Crazy Ivan proposed yesterday.

And near the SPY's Apex, it "seems" we are getting a C.I. move.

At least we have some movement that we can start to look in to.