SPY volume was 135 million (average is 120 M) and more than 40% of that action occurred in the last 2 hours as buying developed. The XIV/VIX inverse correlation was almost perfect...something we haven't seem for a while and Thursday may be a good candidate for some buying follow through. Then there's Friday...typically a red day and a dangerous time with a possible Trap Door if the sellers decide to show their hand.
M3 has been a bit confused by the recent whipsaws but its continued cash stance has worked well so far.
