E-Wave for the S&P 500 Index

[RCKS]

Trend1
I think Tony is hedging a little bit on his call for 1313-1330 and now sees the bottom coming closer to 1340....
A lot of Bearishness now across the threads...cnbc, bloomberg, etc. a bottom is probably close.
northam even you are projecting now that the Weekly will stretch a couple weeks, more Bearish then you were.

We are officially in the Max-Pain window with expiration on the 18th. Spy m-p imo is at 140. You can see why they are working hard to hold the 135 level.
@135 Puts OI of 425,000 Calls OI of 73,000
@136 Puts OI of 304,600 Calls OI of 86,800
@137 Puts OI of 271,000 Calls OI of 92,000
@138 Puts Oi of 293,600 Calls OI of 110,200
@139 Puts OI of 218,500 Calls OI of 123,400
@140 Puts OI of 236,000 Calls OI of 230,169
This May 18 expiration Open Interest.