turn your head and cough

Shorts squeezed again!  lol
Right back into our pitchfork, safe and sound

Price opened just under the 20-day MA, which coincided with the 50% retracement of our most recent swing highs/lows.  A strong breakout candle, a close above the 61.8% retracement and a W-bottom pattern breakout set up today.

Price gaped up big today and didn't go any further than a 50% extension based off the Previous day's Close to today's Open.  This also coincided with a 150% extension as measured off of the previous day's range (low to high):

Being that the year is in it's last month, take a look and see where we are on the grand scale.  The S&P500 yearly chart puts us right under a confluence of resistance; the 23.6% level from the 1960 lows to the 2007 Highs and a 61.8% level from the '07 Highs to '09 Lows

However...The more times price tests Resistance...

amazing how well that 50% level was our S/R zone