The market continues to hover right over the October trend and today was a bit of a consolidation day. I’m not seeing anything overly optimistic in the RSI or the MACD, I think we probably do nothing until CPI on Wednesday and PPI Thursday. We’ve had 2 recent breakdowns immediately bought up, is the third time the charm? I don’t know but we will see after Wednesday. At the moment there isn’t anything bearish to say we’re trending with blue skies above regarding being over all the moving averages and a move over 4200 would be a pretty big breakout if we could do it.
Oil is another chart of interest to me as it looks like it bottomed 2 days ago look at that long wick and the volume those 2 days and the subsequent recovery and reclamation of key moving averages.
Today’s Unusual Options Activity & What Stood Out
110 Trades Today
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