The tiny dip on SPY is a trap.
Shorting VXX is the trade for today. Be greedy when others are fearful.
Longs, don't pretend to be surprised when you see 180. This market is as giddy as it could possibly be. The visible hand can use (create) any bad news to sell this market. The question is when, not if.
All the way to the first week of Dec. People and taking profit, and a lot of them will be at least somewhat nervous about the Fed's Dec meeting.
Then we will re-test the all time high during the Christmas rally (a.k.a Big Ben no tapper rally).
I think in a broader scale, the top is in. Inflation is picking up overseas. The US is about to feel its impact very soon. The bond market has been quietly expecting the taper (effective rate increase, whether you call it taper or not) for quite a while.