Quote from AMT4SWA:
Now I will be watching the 934's and 927's.........if these levels get taken out, that would confirm to me we just locked in a intermediate term top at the 949.00 level.
Punching through 934's and then 927's will get many of the "late" retail buyers (smaller players) bailing out......most of the big commercials I would say are on the "right" side of this trade at this point.
At end of RTH yesterday we were looking for a zone of 44.25-47.25. Now that we've traded to 49 with a lower delta reading, is the new zone now 46-49 or do we still have 44.25-47.25?
The 934s are from this morning's AH, and the 927 are from yesterday morning's AH? In CD terms weren't those holders all gone at about RTH open today? So you'd be looking to see if price actually now trades through them to confirm the top?
