Looking for SPX to blow off a little steam and start pull back in 3-5 days. Picturing decline to 3050 range by Friday June 19th or maybe the Monday after. Will use options long butterfly, thinking 3000/3050/3100 and might sell before expiry.
If movements complete, probably 7-10 days, as I'm thinking then I'll short. Seems like it should swing up to $52 level (+/- 0.50) before bull move stalls and then moving down to $48 level at least. However, if it moves up to $53, on level with previous swing high, then I will not be interested in shorting.
Looking at:
- Isometric movements from the previous...
Sugar seems to be slowing in decent, pulling up to 50% BB level, and tastes good.
If it doesn't break hard below 15.20 and moves above 50% BB, then I'll be looking to go long.
