I think you have it backwards. Look at that insane rip right at 1:45. They let the SPY turn red for like a second. LMFAO. They won't even let go. They just turn the V machine on when needed.
Wanna bet for the next few days??? You buy every V and I short every V. ES/NQ your choice. I can do either 1 contract to any size your choice.
Added to my short a couple times, inside the old range. Been adapting to this crazy zigzag trend by buying several times for a longer term swing. You daytraderz are getting too good, pushing the price back inside the range every time it looks like it's going to start a new trend.
If @Laissez Faire was here, he'd tell us the odds we already have the HOD and LOD, but to me this looks like a flat-ish, range-ish day. Stop run to the upside first, stop run to the downside then, and back and forth for the next two hours as people start closing their positions before the weekend. But hey, I'm just guessing mostly here.
Haha I like it, but would be no way to keep up and there are just too many V shaped things; I'm a QQQ person, but look at SPY. It can't even survive the smallest red. Already making another big V. The selling is over for the afternoon already. THET JUST CAN"T KEEP THIS MARKET DOWN!!!
Back in the day and not too long ago these fake fades for QQQ would always threaten red or even touch red before the bounce. Now it doesn't even come close. The fake afternoon drops are getting smaller and smaller. I can't even remember the last one. Anyways, 4 out of 5 green days this week and 7 straight green weeks.