Exactly...but this has been going on for more than a decade...It's just that now the markets are super thinned out, HFT algo's chasing the markets higher and it's just too damn easy to gap this stuff up 1.00% and let the bid sitters do the rest...I still think this is a longer term distribution, but it's a remarkably controlled decline and let's face it...if this thing started cascading lower like it did back in 2008, the consequences would be that much worse...so just a rolling chop lower with massive squeezes interspersed is exactly what the Fed is after...
That's how you play the "rolling chop" or you just wait for the appropriate volatility index (vix, vxn, rvx) to regress back to its support level and you rinse/repeat...but you have to be extremely quick on the trigger closing out shorts...you only get minutes sometimes whereas you can have hours/days to close out longs...
well, technically every week is some form of opts exp...but RM would still buy every dip in the market regardless of what week it is...
SPX chart is showing an inverse h&s on the 4h chart DJI is showing a descending downtrend this could go either way