Monday’s session was set to be one of the bigger pullbacks of the year, until it wasn’t. The SPY and QQQ were set for 2-3% intraday corrections, until they weren’t. Shorts were dancing in the streets, until the music changed. Sometime before lunch, someone in New York realized they forgot to turn the markets on, and flipped the switch. Within a couple of hours, the ‘V’ was formed, which in the SPY quickly became lopsided to the upside, with yet another new high. While the price action was indisputable, the internals were less than glowing. VIX, ADD, and TICKS all seemed to lag behind the action, giving us the tiniest hope that the correction we’ve been pining for, and thought we might be on the verge of, is still in the cards.