Option Investor
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This afternoon's bounce overlapped the bottom of this morning's first low. That means we're either in a corrective wave structure which will see price chop a little lower tomorrow, to then be followed by more rally, or else it's a more bearish wave count calling for a much stronger selloff tomorrow (3d of 3rd wave down for the count from yesterday's high). That kind of strong selloff would likely punch down through potential support levels (right on through SPX 825) as if they weren't even there. Consider this possibility if you're sitting on some positions for opex and cannot tolerate a fast drop. It isn't a given that it will drop hard but that's the way I'm currently leaning at the moment (this afternoon's bounce being corrective is pointing lower still).

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