We’re moving the stop up on SPY (total position) to $242.95. We believe the markets will likely see an ABC type pattern play out in the coming days/weeks. Psychologically these moves won’t necessarily make sense. The typical trader at home watching CNBC all day will have been long as the market crashed, believing that surely this was all overdone, and stocks are too cheap. Then near the bottom of the move they will panic sell. … read more Trade Update