OEX 680 was reached and gone into lower band of 677ish. The whole day it was not able to rise above 684 which was the S1. It was a kind of orderly selling and has a sickly stigma attched to it. In any case, it has been six days of fall and there should be an OS bounce within one or two days especially when the Fib ratio is reached. The bull's case has completely collapsed and do not let any talking head confuse you. It has merit if and only if the market rallies hard back above 690, else the case is closed. Tomorrow watch 683, 680 and 674. Anywhere below 690 is shorting territory.
good luck
2c
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hi 2c, agree with shorting. this is OPEX week, and that means it is volatile. heaviest OI for spx is 1400 puts and 1450 call. I think we should be above or close to 1450 on Fri morning. but we may get below 1400 before that.
p
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