The third week of short covering due to worsening economic data and tanking profits. What could go wrong?
The S&P is back to the level it was at just prior to the Flash Crash, which occurred on the Monday following Options Expiration. Today is Options expiration...
"Great news. No economy..."
ZH: Oct. 15, 2015
Options Expiration Marked the Top Of Every 2015 Rally
Meanwhile whoever programmed Skynet didn't have much of an imagination...
The first rising wedge (short-covering rally) failed and then led to this second even steeper wedge w/massive downside gaps on no volume:
And to add to overnight risk, the S&P has decoupled from Aussie (Yen):
And Dollar / Yen