Blowing our own trumpet in the SPX this was our forecast for the November expiry back on the 23rd October “However, there is no doubt we are in a bull market so in all likelihood we should just see the upper half of the range, so 2545 up to 2595”.
The low came first and was 2544.04 followed by the high at 2597.02.
Nice recovery yesterday but it can always get a bit fruity in the grey area, which if it does normally sets up opportunities for the next expiry.
Even so, and as we often say we don’t believe in coincidences, so seeing the close right on Y2 certainly fits that bill and shows there is still some influence taking place.
Range: 2575 to 2585 or 2585 to 2605
Type: On balance bearish
There we go, at last the NZ changes here in Dec to match November’s and its only taken all week.
Now it has moved it means that everything can now kick on and hopefully start developing.
Therefore, please do not read too much into all the Y ratio now below the zone as a lot of that is what was already there it’s just the zone has leapfrogged it.
However, even as things now stand, it is looking like it is going to be a cracking expiry, one that has Thanksgiving embedded into it of course.
Range: 2580 to 2590