S&P 500: The 2-Minute Chart
Trader Moe | Dec 18, 2015 10:34AM ET
ES is Stuck at the Moment Forming Megaphones inside Megaphones Across Roughly 2017.50
ES is stuck at the moment forming megaphones inside megaphones across a VWAP of 2017.50.
Yesterday the SPDR S&P 500 (N:SPY) put-call ratio put in its regular triple-witching Thursday trip to its bottom Bollinger Band®. SPY price rallies after these dips in the ratio are usually limited to about 2 points from the close on Thursday, and are usually much smaller. Often there’s no rally at all.
The rally or non-rally is typically followed by a price drop of roughly 90-100 ES or SPX points. The purple scenario would be a classic post triple-witching scenario with a target of 1950.
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