$SPY sitting less than 1% from all-time highs right now.
Interesting pattern since the March-April crash: each dip is getting shallower on the way up. Almost like each drawdown is half the size of the one before it.
Not sure what edge this gives you, but it's worth noting. Market keeps finding support faster and bouncing harder. Classic sign of strong hands absorbing supply and weaker sellers getting flushed out earlier each time.
If this pattern holds, next pullback might be even more shallow before we rip higher. Watch for continuation above ATH—could be a momentum breakout setup if we clear it with volume.
Interesting pattern since the March-April crash: each dip is getting shallower on the way up. Almost like each drawdown is half the size of the one before it.
Not sure what edge this gives you, but it's worth noting. Market keeps finding support faster and bouncing harder. Classic sign of strong hands absorbing supply and weaker sellers getting flushed out earlier each time.
If this pattern holds, next pullback might be even more shallow before we rip higher. Watch for continuation above ATH—could be a momentum breakout setup if we clear it with volume.
