Friday’s action was that of a Downswing Bar where the High was lower than the previous day’s Low. Further, the Close was in the lower 25% of the day’s range. This occurred while the 15-3-3 stochastic is in a Downtrend between 20 and 80 and the SPX is trending Upward above its 50-day simple moving average. This market condition has occurred just 7 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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