The stock market has two significant down days, and I'm looking for a third. The market gets a lot more interesting on the long side, if it we get a third significant down day. Maybe it will be a full boat banana split and a 10% or more pullback. After this 40% rally off the lows, a pullback would be natural. At this point, a 33% or 50% or 66% pullback retracement would be healthier for the long term health of the stock market, than more rally.
SPY 88 is minor support. There is still lots of anecdotal reports about folks waiting for a pullback to get in, so any selling is likely to be contained.
Long SPY (expiring Friday)
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