Hopefully, you’ll recall that SlopeCharts has a cool new feature called Event Markers. I decided to show recent activity on the SPY with some relevant events this week. The one is Tuesday morning’s “all eyes will be on…..…” CPI Report. Three reports ago, it tanked the market. Two reports ago, it started the market on an explosive rally. And the last report, it popped the market for two days and then it rolled over, thanks to Bear Force One.
More rare is the quadruple witching. The last time this happened, it marked a pivot point that stopped the bear market COLD in its tracks, and it hasn’t come anywhere close to that level since. I’m talking about the PRECISE DAY of the bottom. Maybe this quad witch will be a pivot too – – and, God willing, to the other direction this time!
