S&P 500 MINI SPX OPTIONS INDEX Forum & Chats (CBOE:XSP)

Nov 24, 2023

Updated thesis:

My goal of 460 is still in play but there’s gonna be a nice pullback before we get that buy the dip action. I would start looking for temporary small shorts here

Nov 22, 2023

Updated thesis:

I don’t know if others see it but the market is attempting to test the high of 460 with full speed ahead. This area can act as new support or as an area of interest for shorts which is exciting. I’m anticipating one more pump before confirming which direction the market wants to go. Stay tuned.

Nov 16, 2023

Updated thesis:

Market is pinned at two levels currently, 450.5 and 448.6.

Bullish: To see further movement upside, we need to take out 451 and above to stabilize the “bull” trend.

Bearish: But if we are to retrace to 448.6 and below, the market could be attempting to face a new downtrend with under 443 being the confirmation.

Conclusion: I wouldn’t trade in this market until the price reacts and breakout whether to the upside or downside of these levels.

Nov 16, 2023

Market is attempting a short term downtrend move. Will update as things progress.

Nov 10, 2023

Per my last Mind, I speculated that a lot of rangebound movements were gonna be present this week but overall remained bullish. My sentiment remains as we push to higher prices. You won if you were bullish this week. See you soon.

Nov 6, 2023

Put Credit Spreads closed 100% in profit. Although the trend is still “bullish”, it hasn’t been confirmed that we’re heading towards a bull market. This week shows signs of range bound candles so be on the lookout. Overall, I’m still slightly bullish on the week. See you soon.