I will be relocating this blog to my new website and twitter account where I’ll be posting market commentary and option trades daily on my new twitter account @classicoptions and would greatly appreciate it if you come and follow, like and retweet as I place trades. I will leave all the resources on this blog up for anyone who wishes to continue to use and reference it. Hope to see you there, leave a comment or two and say Hi. Good luck trading!
Well, now its unanimous…3 out of 3 have now crossed into bearish zones. Now what? Time to sit back and keep an eye on the market, look to see if $SPX will recapture the 50 SMA and hold above. Otherwise, we will be searching out for support below these levels. I’m looking for a bounce to occur tomorrow, but the close will tell the story.