Overall volume pulled back a bit on Wednesday as SPY gapped up to what looks to be a mad dash at 208 (after we likely fill the gap) to kick off the second quarter. Momentum in volume has very much shifted at this point and we’ll soon be exiting our short position (our recent long hedge has protected our capital very well) and move to cash as we wait for another possible pullback entry for a short-term swing. There have been 3 such long entries since the rally started in mid-February (2/24, 3/9 and last Thursday) and HG has called them all with gains averaging around 50% per trade. As far as catalysts go, after tomorrow things should quiet down, but don’t expect the Fed to stop talking anytime soon. -MDLogin. Not a Member? Join us.