Expect a big move on Friday Could go up as high as 2080..everyone is bearish from sell off and tax sale Friday and quad witching $670 billion in options For spy from range 205-199 expiring on Friday Oil up, euro up dollar down...recipe for a rally. Rsi under 30,about to cross up, spx at bottom bb Wednesday rally had higher volume than Thursday sell off
SPY will fill lower gap at 195. VXX will fill upper gap at $26.
Bounce for Santa rally?
Short term bounce for Santa rally?
SPX is trading inside a pennant on the 1hr chart. Expect another volatile day tomorrow. Chart shows that SPX will open up and can run up to 2070 or pivot. Rally can get faded quick so take profit when target hits and lock in profits. Nymo is still oversold.
BAC found support at bottom of pennant and 50 day moving avg. Upside to top of pennant is around 17.82 or R1 resistence in the next few days