I wrote on Friday ‘Although there is no Time Support level (Control) to key from down here, there is the Major Value Area Low (VAL) at 645.5 which ‘might’ attract some falling knife catchers and get a rally started. Nothing ‘safe’ though until a Control of some meaningful degree emerges‘.
That level was touched on Friday and today SPY opened sharply higher, see chart. Bulls would not want to see that VAL retested and, ideally, we will see a Control develop that we can key from. Obviously, as I wrote Friday ‘Nothing safe‘ yet.
read this post on Substack
