5 replies to this topic

[hiker]

SPX upside risk can be managed using 1438 to 1441 support zone, from near-term...1432 and then 1447 horizontals from long-term daily reward - who knows? 1404 followed by 1370 major horizontals but a close below 1427.39 recent low to 1432 needs to be seen first I covered shorts held over....do not like the uncertain reward for know upside risk at the moment. flat for now.

[Cirrus]

That is the logical and sane arguement based on the action of the past 4 years. I would wager, given the action and back and forth spent down here we eventually go lower--especially in light of the VIX BO. Today was a huge battle and I haven't monitored the internals well but I'll be checking them out after the close, obviously. I got no idea from here but I'm flatter than a pancake right now. I would bet the institutions really need a rally into opex cause there has to be a ton of put open interest in the money.

[Cirrus]

That is the logical and sane arguement based on the action of the past 4 years. I would wager, given the action and back and forth spent down here we eventually go lower--especially in light of the VIX BO. Today was a huge battle and I haven't monitored the internals well but I'll be checking them out after the close, obviously. I got no idea from here but I'm flatter than a pancake right now. I would bet the institutions really need a rally into opex cause there has to be a ton of put open interest in the money.

[Cirrus]

That is the logical and sane arguement based on the action of the past 4 years. I would wager, given the action and back and forth spent down here we eventually go lower--especially in light of the VIX BO. Today was a huge battle and I haven't monitored the internals well but I'll be checking them out after the close, obviously. I got no idea from here but I'm flatter than a pancake right now. I would bet the institutions really need a rally into opex cause there has to be a ton of put open interest in the money.

[arbman]

Huge battle Cirrus? I don't think so, a huge battle would have at least a huge volume, this was a low volume day. Perhaps it was a street fight, the mob kept beating a few guys laying on the floor while noone was around...

[Cirrus]

you're definitely right in the broad sense kisacik; i was thinking about intraday action and the fight around 1430 spx cash. 1430-33 has been a key level since the 3rd of aug.