Option Investor
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Mid-day update: sit back and watch the show. We have a lot of corrective price action going on here and I see an equal chance of rallying to SPX 875 as I do a drop to 825. Or we could simply chop sideways as SPX gets pinned to 850 for opex. It's a good time to sit on your hands and wait for some clarity. The way the market is being held up into opex leads me to believe we'll see a market hangover next week. But until then I don't see much interest in selling the market and I see waning momentum on the upside--a recipe for choppy price action in the short term.

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