9/14 Recap. The Market Is Barely Hanging On.

Today was a very weak bounce by all measures, the market was up decently at one point but sold off dramatically. From a technical standpoint, things do not look to promising for bulls at the moment, but alot can change by friday when monthly OPEX takes place. You can see below the SPY closed right on that uptrend line going back a few months, it’s hanging by a thread. Tomorrow should see QT doubling with OPEX the following day, from a technical standpoint, we will learn alot about the market in the next 48 hours. Will it hold the uptrend or will it finally breakdown? Today was a big tease, we broke down then recovered violently in the final 15 minutes to end in no mans land.

Today’s Unusual Options Activity & What Stood Out