Couple things... Nice little Melissa move thre in white.... Mellissa moves are Wave 4 moves, where you get a higher high, followed by a lower low that marks a bottom.... We will watch and see if the Melissa move moves into a near term bottom for the XLF.
What is interesting here in the SPY..... We are starting.... and I stress Starting.... Starting Means a day or 3 from a nice Accumulation low.... If we are Grinding to a low.... that won't be a V bottom. We should be able to see the Accumulation...... And we are Starting to See it.... Ever so slightly the "mmmmm" moves/chart patterns in the Charts, are turning more into "www" or more "uuuu" moves/shapes.