Cobra's Market View

Looking at the Q's, price is riding just above the 3-day upper declining trendline during the last hour or so. If it breaks up, then a move to 56 and then 56.30's is possible.

jarbo456 wrote:jeez. bears really suck. rebound and potential small double bottom forming.

Or this could just be a "2" before "3" down? (added some QQQ puts just now)

silicon_beaver wrote:woops, stopped out.

Today, I will be looking to add shorts on any tops.
This morning's move is forming a wedge which should resolve up soon for a lower high which is where I will add.

Max Pain for October:

QQQ 55
SPY 119

http://www.optionpain.com/OptionPain/Option-Pain.php

Thank you for your great analysis, some of the best I have seen.