Awesome rally in the market today. VIX is getting killed though and my options are barely moving. I bought SPY calls yesterday at SPX 1262 and they are the same price today with SPX at 1277. Crazy. I haven’t really been racking my brain to look for alternate counts. But if this is wave 5 and it equals wave 1 then it points to about 1280. If it extends to 161% then it should hit 1300. The 3rd wave of wave 5 161% extension is also 1280. Then the final 5 of 5 might carry us up to 1300. Then there will be a large pullback to say 1260 and we’ll see what happens there.
