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good point also looking like the 1310 calls are being closed in the squeeze. It is a race of theta at this point for the shorts call holders.

interesting note on the SOX, 'having a big day today. what period setting on the macd are you using? thanks for the input.

agreed. the atr5 is 13 so the move should be coming to a close. But...the buying doesn't seem to have an end in sight.

thanks for the input, 'appreciate it.

The SPX march higher continues with a new multi month high today. Dow is slightly lagging but is very close to a multi month high as well. The Tuesday overnight high for ES is also looking to be broken. Transports are also leading the way higher with NDX and COMP hitting multi month highs...

Thanks, i think price outlooks have been mentioned in most posts, will try to make it clearer. Other perspectives and analysis are welcome. Yet another gap up at the beginning of the trading week. The pattern for SPX has largely been to trade sideways the rest of the week. ES overnight...

exactly. But just as interesting, the market has gone sideways for the remainder of the week after the gap up.

i'm short near the money calls my friend, if /es hits 1305.5 they will be closed.

Bad news over the weekend beginning with the downgrade of France. The ES is up 25 points from Friday's low. Expecting Cash to open higher at least 10 points. should be a blow off top or spx will assault 1307 shortly thereafter.

somone wanted a higher print at the close. likely higher next week, time to buy hedges.

and then they fall apart?

A small overnight rally did materialize and then an impressive move lower. Even more impressive is the EUR/USD move to a new long term low. For the first time in a month spx and dj30 are below their 10 dma. With Tuesday's gap now filled we could see this rally ensue. The pattern the last few...

once at the long strike the adjustment time has passed. the only option is to close or roll out to the next period/month. 'Should prob be comfortable with the next trade on its own merit though.

More of the same, an overnight rally and new overnight weekly high. Thus far the overnight highs have largely held frustrating domestic traders. To significantly break the overnight high SPX has to breach 1305. Historically, many short term trend reversals have taken place after a gap. SPX...

thread is more entertaining now that GS is on ignore.

ATR5

cash ATR is down to 11ish. top of this day would be es 1291ish, 1295 for an outlier day.

thanks, great to have you here.

News appears to be turning negative and focusing on Europe more. After comments from a rating agency, the EUR/USD turned lower and futures followed. Once the cash opened, the small gap was quickly filled. dj trans are up early, and are often leading, so a positive day could be in the works...

quite the technical case for the downside. If selling is not indicative of market intention not sure what is. I could see logic go out the window and a rally into the election though.