Option Investor
Update
HAVING TROUBLE PRINTING?
Printer friendly version
If the bounce off the mid-morning low can continue a little higher SPX will have two equal legs up at 847 which would be slightly more than a 38% retracement of the decline from Monday's high. That would be a level to watch for failure of the bounce. So far I'm getting that sideways feeling (typical during opex) and it takes a break below this morning's low to confirm the more bearish pattern that calls for a strong decline (perhaps down to the 800 area for expiration). But for now we may be seeing consolidation that will keep SPX pinned around the 825 or 850 level.

Market Monitor Archives