By Steve Lentz
Friday’s SPX action was that of an Upswing Bar that followed a previous Downswing Bar. This occurred while the 15-3-3 stochastic is in an Uptrend between 65 and 100 and the SPX is trending Upward above its 50-day simple moving average. This market condition has occurred 85 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 unfavorable for selling option premium with neutral strategies.
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