ID/NR4 is a powerful setup. As soon as it failed to break above 729r1, OEX Nov 725 puts were good.It has entered oversold zone, and whether it will stay there depends on CPI tomorrow (my mistake, it should be Wednesday Oct 17 instead). If tame, as in PPI, a rebound is in place. Watch 728r1, 723pvt and 717s1 tomorrow. See how the range expands after a contraction. If it cannot close above 723, brace for more downside to come. Today, the technical damage is done. All observations mentioned in the past few days materialized. Even Bradley is on target.
As an aside, there was a block of approximately 3,000 AAPL Nov 170 call contracts went through today. Someone must be expecting another blow out earning from Apple Computer, come Oct 22.
2c
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