A Few Comments on $SPX

As noted yesterday, 4000 is crucial and so far at least, we seem to have rejected that. Since we gapped way above where I speculated blue a could be (here) and opened straight at 4000 instead of meandering our way there, the bearish view (of an orange B failing at 4000) could in play sooner rather than later.

So long as 4000 stays rejected, it’s possible that we do this:

SPX

As for playing this, I closed calls at the 4000 rejection (since they were up) and have taken some puts for next week and I will monitor this structure to see whether I think we will be able to recapture 4000 or not (which we might still be able to do).


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.


One thought on “A Few Comments on $SPX”

Leave a Reply

Your email address will not be published. Required fields are marked *