Means of Support

See it in the headlines
You hear it every day
They say they're gonna stop it
But it doesn't go away
--Glenn Frey

This end of week rally was somewhat intuitive given the selling of late. And, as of Friday morning, the SPX has reclaimed the 1880 level. This will likely draw bulls in under the presumption that, as in the past, this strength following a nasty sell-down signals the all clear for higher prices.

I'm certainly not slurping that Kool Aid, although I did cover the majority of my short exposure into the -500+ intraday Dow melt a couple days back. Rather than buy 'em, however, I'm to looking for opportunities to reload on the short side.

Pulling back the time frame indicates lack of support between that 1880 level and...1100 (not to mention that head and shoulders topping pattern).

That's what one way moves do, cookie. They leave support behind.

position in SPX