The view on Friday was a rather tenuous possible double bottom. Now it seems like the 52 week averages are in play. The SPY 52 week SMA is at 399. An excursion to there will fill the air suspension gap from the first week of April. Keep in mind, the major ETFs pay dividends later in the month.
Making a cd = ab on the recent SPY action:
452 High – 428 Low = 24. 444 Swing High – 24 = 420
That number appears optimistic at the moment.
