S&P 500 & Nasdaq Analysis and Trends

[market_watcher]

I posted on aj's board about a week ago that I don't think QQQ options are used as hedges predominantly. The open interest ratio tracks the ups and downs of the index in the same direction predominantly.

I think that means people are using them to profit from index moves in the same direction, so long calls when the index is going up and long puts when it's going down. That's my take.

This is playing out very nicely for my analysis from this morning. BBs are getting tight again. I think we get one more pop up tomorrow. If we go below 1220, I'm counting something incorrectly.