SPX Analysis and Proprietary Trading System
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Thursday, November 13, 2014
Next 7 days
Just a quick post...I don't follow weekly max option pain but it appears to be around 2020 or so for tomorrow. Monthly max option pain has risen slightly to 1975ish, so 1980ish is a possible target for next Friday Nov 21. My last post still stands even though SPX rose to the 2040s versus the 2030s. The 1960s appear to be a good short-term retracement target with 1950s possible and then a likely bounce into OPEX. Mr. Caldaro has an OEW pivot at 1973 extending to 1966. If SPX continues grinding higher into OPEX instead, I think there will be some thin air below in terms of remaining buyers and price-volume. At a quick glance without fully calculating, my S2 hourly trading system would be short from 2035 and my much older abandoned daily system would be short on a drop below 2025 or any subsequent bounce. I'll add VIX has been diverging with SPX price highs. Good fortune.
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