Congratulations bulls on the second longest run in history. It was a bit anti climatic to take out the ATH on SPX in after hours, but whatever gets the job done. Correction, it looks like technically the ATH was taken out in the first minutes of trading, but it felt like the direction was already set in pre market and futures.
It will be interesting to see if the SPX can hold gains to set a new closing high. Still taking out the intraday high is a big technical blow to the bears and completely violated the complex head and shoulders pattern on the SPX.
NEW HIGHS Goodness this has been a crazy couple of weeks to say the least. Intraday guys its going up but dont let them chop you up. Wait for the proper entry
New highs and the CBOE's VIX is actually up, currently 13.31. Haha man...will watch if that goes under 13 in the next couple days.
great call @Gil Oren i know you were one of the few on here who was looking for new highs this summer
whelp pete at shadowtrader thinks volatility ultimately heads a lot lower ... like sub 12's kinda lower
looks like cash spx will close even above its old "intraday" ATH of 2134 which is not too shabby although this won't happen today, i'd still like to see the other majors catch up at some point and join in on these new highs ... we'll see if it happens in the weeks/months to come
now this bull has its eyes set for the longest bull run in history! i'll have to check up on the official stats, but i'm pretty sure we'd still need at least 4+ years of this bull to run to make it at least close ... that 90s raging bull was crazy epic ... even if this bull falls a few years short would still be pretty damn impressive ... still as you said this is the 2nd longest running bull in market history regardless of what happens from here ... not bad at all
That is a lot lower. We haven't held under 13 since last August though, so I'll get some hedge if we get there.
I'm going to sell 30% of my SPY position, and I think I'll load up on some greasy OTM VIX calls when that happens. Buying OTM and selling ITM has always been good to me.
