Option Investor
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The market continues to consolidate following this morning's decline and may continue to do so at least through tomorrow. It's been a choppy day which seems to be typical during opex week and there hasn't been a lot to report on today. The pattern of the bounce off this morning's low is keeping me leaning towards the short side but I recognize that we could see another bounce into the close today. There's a lot of interest in holding the market up this week. Next week will be a different matter. A break below SPX 834 today would be a bearish signal but until then don't discount the bulls.

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