By Steve Lentz
Friday’s SPX action was that of an Downswing Bar that followed a previous Inside Bar. This occurred while the 15-3-3 stochastic is in an Downtrend between 60 and 100 and the SPX is trending Upward above its 50-day simple moving average. This market condition has occurred 55 non-consecutive times since January 2000. Our research indicates that, statistically speaking, it’s more likely than usual that this market condition will end up being favorable for selling option premium with neutral strategies.
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