S&P 500 MINI SPX OPTIONS INDEX forum
Updated thesis:
I don’t know if others see it but the market is attempting to test the high of 460 with full speed ahead. This area can act as new support or as an area of interest for shorts which is exciting. I’m anticipating one more pump before confirming which direction the market wants to go. Stay tuned.
Updated thesis:
Market is pinned at two levels currently, 450.5 and 448.6.
Bullish: To see further movement upside, we need to take out 451 and above to stabilize the “bull” trend.
Bearish: But if we are to retrace to 448.6 and below, the market could be attempting to face a new downtrend with under 443 being the confirmation.
Conclusion: I wouldn’t trade in this market until the price reacts and breakout whether to the upside or downside of these levels.