Keep Tabs on This Number

One reason this thought might be just as promising—if not even more promising—than the second option discussed here is a very specific level.

From the all-time high, 20% down is 3846.50 on $ES. That, of course, is the demarcation point for a “technical bear market,” and a close below that level would probably trigger a lot of programs in unforeseeable ways. They may not want to push it that hard. And so, the Wyckoff “spring” may be the superior option, because a lot of buy programs may actually jump in soon to prevent just such a close below this level.

So, worth keeping an eye on the number.

There is also a shit ton of puts in the system right now and I have a pretty good feeling that they might go up in smoke. $SPY “max pain” for monthly OPEX (this Friday) is actually 422!!!

---

Note: When articles are first posted, most of them are made available only to my Patreon supporters (I do try to publish some public posts on occasion). Over time (usually after a period of a few weeks or so), I make all of the work public. To gain access to my work when it is produced, please consider becoming a patron. More information may be found on my About page and on my Patreon page. In a nutshell, patrons of any denomination (you get to pick the amount) will be able to read my weekend analyses, Tier 1 members ($20/mo.) get access to all of the articles I write, and Tier 2 members ($35/mo.) get access to those, plus counts on other instruments and my Discord chatroom.

---