Just a quick note for now. Nothing has changed in the market. With options expiration tomorrow on Friday, I expect the market to continue to rise or stay near current prices given the currently strong bearishness of the put/call ratios for the SPY, DIA, and QQQQ.
After options expiration on Friday after close, I expect the market to correct to the downside short term for the next week or two. Maybe 780 on the S&P as stocks won't be influenced by options expiration. In fact, I expect there may be a decline as the market makers try to lure the bears into more puts going into options expiration next month to make their casino profitable.
I will look at the new put/call ratios for the above referenced indexes on Monday afternoon, but as long as they trend bearish, the market will continue an upward bullish slope intermediate term within a longterm bear market.
After options expiration on Friday after close, I expect the market to correct to the downside short term for the next week or two. Maybe 780 on the S&P as stocks won't be influenced by options expiration. In fact, I expect there may be a decline as the market makers try to lure the bears into more puts going into options expiration next month to make their casino profitable.
I will look at the new put/call ratios for the above referenced indexes on Monday afternoon, but as long as they trend bearish, the market will continue an upward bullish slope intermediate term within a longterm bear market.
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