It's been a while coming but SPY is just pennies away from the magic 200 number. At the same time the SPY TrendX chart in the side panel shows SPY hitting longer term overhead resistance so we should be prepared for a possible pop and drop scenario tomorrow....which coincides with Friday's historical odds of being a distribution day.
The VIXEN charts show the gradual buildup in SPY momentum over the past few days and the VEGA chart confirms that the move has been market wide and not necessarily sector driven.
XIV has shown some hesitancy over the past 2 days but M3 still has a bullish rankings profile.
There are a few new additions to the M3 platform and the launch date has been pushed to August 31st to allow time to incorporate these features as well as risk/reward improvements that were developed over the past few days of M3 testing by a large hedge fund. This was an exciting opportunity to have the oversight of professional platform testing technology and expertise to which I would not normally have access and M3 will be a better product as a result..