SPDR S&P 500 (SPY)

[USDollar]

Well yeah, there's a case to be made for that, absolutely

I assume put holders are itching badly to cash out- this covering should put a bid and some chasing up too..

Then there is the area of support 267-263 where buyers and buying orders should come online

it's a fair outlook

Then there are resistances above and bagholder levels that should form serious selling (resistance)

So volatility

But like I posted earlier, if the plans are SELLING MASSIVELY, then the bids will be used for serious dumping and only with little bounces along the way (traps)

it will be an interesting day