Above chart is max pain about 1075 Spx for Aug . Do we have to go down no but it does add downside pull. I have the 6th as a 8TD and 24TD high so I need to watch that. It's amazing how the 5th TD of each month can be a major high or low leading to OE on the 20th (OEX).
The 6th is also the 5thTD like 3-6-09 if ones remember that event. (major low)
For Thursday I 1116 as a pivot B/S agressive to wiping, nothing to do with today's low. My indicator are still not overbought. 1168 anyone?
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