Replies to post #285038 on Option Millionaires

[PopzTheWise]

Exactly my thoughts, we have been above the 5 and 10 day moving average for this week but it seems so overblown.

I almost want to buy puts for next week, but this push has me questioning next week, because of how far up we are from the 5 and 10 Day MA.

Oil looks to be stabilizing too. And China so far didn't devalue the yuan but strengthen it.

I hate to say it but this might be just a range bound section that will persist for most of this year given the earnings season isn't terrible but isn't good either.

My guess is we will stick between 180-200 on SPY until something gives a reason to go further up or down.