Into the full extension of the butterfly mentioned last night. Also into the 76% retrace and right into the top of the last swing high. These are all the areas big sellers usually like to position themselves if they are coming into the market. The preceding rally and current spikes feel strong, but we have not yet seen if SPX is going to make a bullish break or not. This could still turn into the high of this upswing, a lower high and go into a lower low -trend continuation on the bear side.
