So we have the continuation of grilling of the bears betting for the big W3 down. I don't think it already reached the point where all of them gave up, so there should be some fuel left for the further rise after these games in the Game Zone:

Yes, and that surely is a factor here. So, for the short side, I'd actually prefer a bounce here, and then roll to new lows, so it can remain a healthy trend with a better chance to sustain. But I still think chopping in the range of that first bounce up from this AM is the most likely scenario. Also, with today being OpEx, who knows what last minute position squaring they may need to do.

Keep in mind Max Pain in SPY is at 113, currently 112.52, so the pressure may be slightly upward. Like I said, I think it will trade in the range, and upward pressure here at the finish would max the option pain. I think it shoots for the high end of the range. But who knows, and at this point, who really cares. The week is over, and what a week it was!

It is now or ... not today for the bears:

But, 112 is so close in value to 113, and this is half way in between and so close to close, that actually I can't see this realistically putting any pressure on this either way. So, I think range in here until close, and that's it.

Very weak. Right off jarek's area. Nice.

Originally posted by jimkane

...But, I am fully expecting just chop in this range until close...

And it comes to pass...

Originally posted by jimkane

...I think this sweet-looking 4PT will fail, in that I don't think this is going down any more today... If they do sell it down, that may actually indicate a sea change. I hope they can do it, but I don't think the odds favor it right now.

Let there be light, and there was light.

and so it goes