Monday started off weak but gained strength all day long. It did not, however, violated resistance. It got close to Friday’s peak, but didn’t go above it. (As for my 12/31 SPY puts, I sold them soon after the opening bell for a good profit, since I didn’t get the swoosh I thought might happen).
The /NQ is a similar situation. It tried mightily to outdo Friday, but it failed.
So long as we can keep causing damage to the 8/5/2024 trendline, we still have an excellent chance of a strong selloff over the next three trading weeks.
