Not to say it won't go higher this week depending upon what happens with earnings from major movers but also what J Powell has to say.
However also do not forget while everyone with larger accounts on X may be telling you we now bounce back to much higher levels before they even begin to watch for rejection. Some of those same accounts that said support was at $412 to $415 when I said you'd be seeing $400-$410 before a bounce.
Well larger accounts now eyeing. $425-$430.
I'm still saying watch for rejection issues at the $417 and $420.
IMO that $417 level has more confluence and possibilities for overhead R then most are giving it credit for.
Even if we break back through it later, I'll be watching for at least one decent rejection and shorting from it was my plan.
Even if my Puts bought at closing don't pay tomorrow, we did great with the Friday puts from R given that morning at premarket as well as playing it basically the same way this morning. 0Dte puts and 31st puts were up 55-110% within the 1st 2 hours of trading. Most were closed WAY into profits within the 1st hour or LESS of trading.
Now we see what the MM do over night and if they can keep pushing it UP.
On the #spx
SPX
I'll be watching for R at the 4180-4190 level.
My puts will begin there for at least a daily pullback to make $ in that hour. I think puts from $4187 look sweet for a daily play.
If I'm wrong you'll clearly have your receipts, lol
However also do not forget while everyone with larger accounts on X may be telling you we now bounce back to much higher levels before they even begin to watch for rejection. Some of those same accounts that said support was at $412 to $415 when I said you'd be seeing $400-$410 before a bounce.
Well larger accounts now eyeing. $425-$430.
I'm still saying watch for rejection issues at the $417 and $420.
IMO that $417 level has more confluence and possibilities for overhead R then most are giving it credit for.
Even if we break back through it later, I'll be watching for at least one decent rejection and shorting from it was my plan.
Even if my Puts bought at closing don't pay tomorrow, we did great with the Friday puts from R given that morning at premarket as well as playing it basically the same way this morning. 0Dte puts and 31st puts were up 55-110% within the 1st 2 hours of trading. Most were closed WAY into profits within the 1st hour or LESS of trading.
Now we see what the MM do over night and if they can keep pushing it UP.
On the #spx
SPX
I'll be watching for R at the 4180-4190 level. My puts will begin there for at least a daily pullback to make $ in that hour. I think puts from $4187 look sweet for a daily play.
If I'm wrong you'll clearly have your receipts, lol