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it's actually 15 min EMA20, so should be some buyers here then we'll see.
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2nd part of that article is that JP Morgan says oil going down hard prior to Chinese GDP tonight. No idea how 'over invoicing' for Hong Kong stuff will enter in to the calculations.
Summary, too many puts and calls holding market stable. Volatility funds had to put more money to work to make their goal. After Friday the calls roll off. If we get around 2000 the volatility funds will shrink exposure fast, adding to the decline. So he tilts to down as the greater probability. Somebody who understands options greeks needs to interpret this for the rest of us- http://www.zerohedge.com/news/2016-04-1 ... ew-warning