The last 2 trading days have seen humongous BOW. Based on history of that, I'd expect SPX 1960 to hold for a few days and likely a small bounce. Monday morning wasn't real decisive but broke 1905 and reached my initial 1850-1875 target in 1 day. Max option pain for Friday is near 1970 and dropping. I think the most likely scenario is an OPEX runaway small bounce and lower low near 1960 Thu/Fri. There is still a reasonable chance for a 4-day 80pt rally near 1960 for OPEX and perhaps even a slim shot for both to occur. Be careful. Good fortune.
Possible of course but 1960 would mean getting through tremendous resistance such as 1900 (200 day) and 1928 gap. Not likely. 1900-1925 possible at best I believe. Great work. Thanks for your time.
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