As of now, we are trading about 100 points lower on SPX since the last post from July 9, 2021 Clearly, we need to focus that last week we made new highs on key US Indexes. The monthly candle is not looking great and we have 9 trading days to close July.
The seasonality for the market is supported for the bull scenario and key earnings will dictate the tone in the next few days.
I have tried for the last few weeks to gain from short exposures but did not work. Today, I tried again. A fresh all-time high can prove me wrong if we trade to that level again. If not, this shorts will provide some hedging to the options strategies. If you want to learn more about the strategies I am deploying, contact me or visit the LLC page.
Last week, we had an important negative week closing at the lows on Friday. This is important to carry forward because today, the day right after the option expiration, the SPX is having another negative day.
The month it is flat and with the option to turn negative is the sellers take control of the price action.
On a positive note, today sellers had the opportunity to create pain but they failed at the last 30 minutes of trading
