By Steve Lentz
Friday’s SPX market condition has occurred only 7 times since January of 2000. So, we look to Thursday’s action instead.
Thursday’s action was that of an Upswing Bar that followed a previous Downswing Bar. This occurred while the 15-3-3 stochastic is in a Downtrend between 30 and 70 and the SPX is trending Upward above its 50-day simple moving average. This market condition has occurred 67 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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