This is very much the story of pros close...This buying was mirrored across the market. 1 million+ shares of SPY purchased hand collared (that's pension fund buying) on the close...mirrored across the market...correlated across other S&P ETFs... You might as well just short Warren Buffet if you're short here. Yes, I check those 6 about a dozen times a day at least. I have two other 9-chart screens (plus duplicates for each with daily candles), one for sectors and indexes, another for the FAANG and tech.
I mentioned earlier today that my trades and scanners had become more focused on very bullish moves over the last two weeks. That based in no small part on the observation from Aug 10 (and that it is as yet not disproved). Wanted to revisit that post and show how it's developed. Here's the trend from the "U R Here" post, paralleled from the day of that call:
Wow....I was looking at doing some profit taking and reassessing the market today (and letting longer term positions ride), but I really like that tag-up with the close on cash and perfect technicals (HH / HL) coming out of it. Time to rotate names, but it looks ready to keep running from here. ...also, still going to do profit taking today. These have run too far for too long