LOL! Hey, what do you think of that falling resistance line at 2012 we closed over today on the COMP? It kind of puts a damper in the re-test/re-trace possibilities if that holds.
It's dropping something like 2-points a day. Unless this is a head-fake and we close under it tomorrow, it might act as support going forward.
Happy family theory of markets suggests all these lines will eventually need to be taken out, and the NDX line is a bit higher up yet. It might not be far from 1462 NDX closer to expiration.
I think maximum downside here may be 1975 or 1960 COMP if 2023 holds as a high tomorrow. 1975 seems the more reasonable choice.
I checked Max Pain on about 15 issues tonight, and they all seem to be right around the neighborhood they're trading at right now. SPX Pain is about 1125, which was the only one that was a bit lower than present levels.
Kill the calls, kill the puts, pinch the Bollinger Bands, then launch. That's what I'd like to see.
I'd also like to see world peace, supermodels working the counters at all fast food restaurants, and a store that sells pets that can cook and clean your house.
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