When I posted the above, SPY was at the 127.35 area. It is now at 135.5. It rose more than 8 points (~6.5%). If the people who were bearish over the last two weeks now realized that the market was not bearish, would it scare the bulls (not the new bulls, but those who got in earlier)?
I'm long 50% and short 100% over the weekend. My range is from: very bearish: 0% long and 200% short. to: very bullish: 100% long and 100% short. So I'm mildly bullish here. FWIW