I am having a hard time wrapping my head around the lack of divergences. Only thing that looks negative is SPY weak volume. Junk bonds, treasuries, etc not showing weakness and if so look like consolidation. Equities price action looks really bullish. I don't see any divergences.
Pain trade could be up as people sell longs at 200 + some will heavily short this level. This would only add more upside fuel.
Starting to think that 204 SPY is at least 50% chance of happening.