What a chop fest. Hard to make head or tails. Relative strength in tech with yield dropping and financials down the gutter. As long as the rotation game is on it is hard to crash. But as long as there's lack of correlation it is hard to rally as well.
$SPX right on the trendline and lower edge of weekly option expected move. Cannot go full bear unless it breaks 4180.
Since covid bottom SPX had a rescue operation back to the weekly trendline every single week. The number is 4260... can they save it???
@hedgefundsrati1 Bouncing off the 50DMA
Option expected move can be quite a powerful pin. Even if destination is lower - they might save it for next week
After 3x rejection... $SPX finally closed hourly candle above 4224. Have to take that as a bullish hint. Need candle close 4238 for bullish confirmation
Holy macaroni! $TLT
And I thought I was being silly this morning when I bought 150c expiring next week lol
If $ES_F comes down hard watch for 4173.50-4175