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The chart looks missing a revisit of the low for being a solid bottom.
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Breakdown in the next, say, 5 to 6 bars with good looking bear bar then it's a downtrend day, key time. I'll pass anyway, as it'd be within the yesterday's range plus downtrend day mostly will have a strong rebound before the close.
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SpotGamma: puts were net closed at all strikes above 4365 SPX (and 435 SPY) but there were fairly substantial positions added to lower strikes.
zh: puts were rolled rather than outright closed
SpotGamma concludes that its up to Powell tomorrow to set the next price move, which should be rather substantial due to the options positioning.
Disclaimer: I am not an investment advisor. This is just my opinion NOT investment advice.
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My guess is the current down leg probably is near over, let's see.
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New York (CNN Business)US stocks are attempting to rebound Tuesday, after concerns about potential contagion from Chinese real estate giant Evergrande's debt crisis led to the worst session for the market in months.
After weeks without a clear driver for markets, Evergrande's trouble came at just the right time to trigger a massive selloff. Analysts have long said a correction of prices was necessary given how long the recovery rally has been going on.
But after Monday's steep drop, things seem to have calmed down. Wall Street opened with green arrows across the board but had a volatile morning, briefly falling into negative territory.
-- CNN
Charts posted are not recommendations. They are just a sharing of information.
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A little resistance here. It's actually a triangle so bias is a little bit up (51%).
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