I would never be concerned about a 10% rally in the market in one day. I would be concerned about a 10%, or for that matter 20% move down in one day. That's why there are circuit breakers.
%% Its late in the cycle, JSSPMK,the best uptrends dont have that kind of sell volume. But on the other hand, weekly charts QQQ, SPY,ES look fine on weekly charts. barchart.com has ES rated as ''80% buy, down from 96% last month''.TGT is rated a 96% sell, from a 64% sell last month LOL
Mkt trading a bit heavy right now. Definitely seems different versus other BTFD rallies. Has the feel of distribution. But then again, we've seen this before.