SPY: Max Pain level Friday

You can quote me on this because I am quoting Mike Burk, who is quoting FX Evolution Max:

Max on FX Evolution pointed out that last Thursday’s rally brought the SPY (SPX equivalent), on which millions of option contracts are traded, up to the point of “Max Pain” t- he point at which most option buyers lose the most money.

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Technical Market Report For March 18, 2023

Saturday, March 18, 2023 9:40 AM EDT

New lows are at bear market levels and the secondaries are leading the way downward.

The Russell 2000 (R2K) is leading the way downward.

Except for last Tuesday when there were 99 new lows on the NYSE, new lows were well into triple digits, every day, on both the NYSE and Nasdaq.

 

Edited by Rogerdodger, 19 March 2023 - 02:31 PM.

No raging bear until Apple aboard bear bus.

When it DOES finally get lined up for the 50% decline, then buckle up.

Only question now is if Apple has one last ramp job left in the tank....

And thinking like a criminal, jamming it up into a disappointing earnings report/guidance in April could be the perfect crime.

But if it instead breaks hard next week, then that scenario likely goes out the window.

It is either Ramp or Die on Apple coming into Monday...

I'm wondering if apple just became a bank for depositors to move some of their money.