The Bear launched itself over 900 on the S&P 500 today. The more than 3% move likely sent short-sellers running for cover.
We’ve been watching institutional grade sellers take position over the past few weeks. Today’s Accumulation was like an upper-cut to their jaw.
Next stop to the upside will be the 950 area where the S&P 500 will meet the heavy resistance mark of the 200-day moving average.