Shack, I believe you were using Freepport data to get that 90% of options worthless <g>
About early strength tomorrow then a drain... a few possible things to support that are 1) a tag of the Naz trendline from below (not more than 10 points above here) and other trendlines, too, I guess and 2) that ABC possible wave 4 that AJ noted in the naz which I noted earlier in the dow. One more up won't mess up either count, assuming it's not a strong strong impulsive up.
That said, it's expiry and that can work both ways. Without looking, I'd guess AMGN pain is 60, INTC is 32.5 and KLAC 55. Etc. We hung at those levels today more or less, so MAYBE pain is done. Or not. Again, I'm just surprised that these trendline and 50 dma breaks didn't have more immediate impact, as touches on them from above certainly did. Maybe we're not quite ready to turn?
the freep, who notes the BKX also had a bounce off support, though is hardly bullish looking |
