Quadruple witching today. Premise for to is to find good entries of key areas as setups are not likely to be clean. Price is contracted early AM. I will look for congestion at 1109.00 potential inside support and attempt to initiate a long if it starts to hold. If it holds, look for test of 1119.75. If 1119.75 holds, look for sideways congestion and likely contraction 1109.00 - 1119.75. If price breaks 1109.00 it will get interesting. Look for test and likely extension attempt of 1101.75. It would be rare for a sell off on an expiration day but price has failed to move up off this area all week. If price extends 1119.75, look for a complete grind up. Price will be prone to congest, contract, then run stops today. There should be one decent AM move followed late morning contraction. If games are being played and market depth is packed I will stand aside today.
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.