Bull case:
We are back above the 50 daily EMA at 80.30.
80.30 was tested Friday and again today.
Other side of 81.85 and a close with a 82 print should get us to test that D/L from the March and April highs.
There are other technical theories you can throw in here in addition to the over equity market that will keep on jamming.
Bear:
Lack of juice and it fails the pivotal 81.25-81.85 zone again.
If it has a shitty week and pins, it will most likely be at 80 where all the O/I for both puts and calls sit.
Strategy:
Long weekly 82 calls
We are back above the 50 daily EMA at 80.30.
80.30 was tested Friday and again today.
Other side of 81.85 and a close with a 82 print should get us to test that D/L from the March and April highs.
There are other technical theories you can throw in here in addition to the over equity market that will keep on jamming.
Bear:
Lack of juice and it fails the pivotal 81.25-81.85 zone again.
If it has a shitty week and pins, it will most likely be at 80 where all the O/I for both puts and calls sit.
Strategy:
Long weekly 82 calls