SPX tags the underside of the larger trend channel in an over-extended momentum squeeze.. profit taking is in order..
Note
Clearly, the market (whoever that is) has intentions that run counter intuitive to mine, and is possibly intent on milking vast options expiry positions for as much as possible leading into the weekend. This predicates more sideways chop that neither serves long term bull or bears, only short term scalping.My outlook is genuinely bearish, however, I am personally reassessing on a minute/hour/day basis to protect my vested interest. Not a recommendation to buy or sell... stay nimble, and trade your plan carefully, IMO.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.