pre-Opex

Remember; (much like many things) trends end in a climax (even counter-trends). The trick is identifying whether price has had that (relative) climax, and so it's vital to wait for price to confirm. With that said, being that it's OPEX tomorrow we might be able to get an idea of whether we're coming to that climax or just trucking along until we could bleed that max pain out of the bears.
Looking at the 60-min SPY, it would be nice to see a gap up to the $87.75 range in some kind of shooting star pattern.Price flirted with $87, and my regression channel's mid-line, but couldn't quite hold on to the highs. This 15-min chart includes a green vertical line during today's session that represents a triggered "First Cross" long entry. Today price gapped up to R1, retraced to Pivot support before trending up the rest of the day. I like to see this pattern of price approaching the opening range highs, retracing to a support area (in this case vwap and a 50-EMA), and breaking resistance (R1) on a strong candle to make a play for a higher resistance mark (R2). Notice the ridiculous volume spike in the last 5-min of over 50-million shares, come on!