Even with a ton of companies reporting, the FOMC, and the late week flush, SPX closed at the exact same level it did last Friday. Whether Thursday was a one day event or we will we see more selling is yet to be determined. I do not think SPX has topped, but I also don’t...
Last week SPX closed higher, something we knew was very likely. We also knew going into the week that SPY would likely struggle keeping over 247 and indeed it did. Interestingly SPY closed right under 247 and higher than what would have been the best pin. This is a sign of strength as well as...
Last week was great, which we knew was a possibility based on the SPY open interest and now I can finally once again say SPX closed at all time highs. Furthermore, although the IWM hasn’t seemed to move much, it also closed at an all time high. Bottom line is that new highs are bullish...
This is second week in a row that bears had some action, but in the end we ended up back in the same range. Although the market has been showing cracks, the bulls continue to fight back making it very difficult to short (which is why I’ve been mostly patient when things sell off and don’t jump...
Last week was pretty rocky and in the end the market is back in the range it’s been stuck in for a while. The important thing is on a closing basis that SPX 2420’ish level held. We now have a new intraday reference of 2405 to go by as well. Next week is a shortened...
Your Open Interest Map to the Start of August
Last week here I gave you the SPY parameters for both Wednesday and Friday (and updated them over twitter). What you did with them I have no idea, but they worked well (see below for last weeks pin information). For newbies to open interest, knowing where SPY won’t go is often just as valuable as […]
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