By Steve Lentz
Friday’s action was that of an Upswing Bar that followed a previous Upswing Bar. This occurred while the 15-3-3 stochastic is in an Uptrend between 50 and 90 and the SPX is trending Upward above its 50-day simple moving average. This market condition has occurred 200 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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