i did not, in fact, no new index plays in the last two days for me. my last attempt was the negative divegence play and there i was looking for a retrace to the middle BB or 20ema (at the time, 1575 area). that seemed to have been satisfied yesterday as 1577.8 low touched both the those supports. But as i said, it was an "attempt", as i was looking for a greedy entry that never filled.
those MNX players seemed to have had the right idea...choppy action as we move back and forth around the 1600 level. also, looking at the QQQQ, although Max Pain is 38, that is a skewed because of the very lopsided and heavy interest on the 38puts. so when you look at the 38, 39 and 40...there is no great gain for the writers if this falls much lower, as the 39 and 40 puts have haveir interest than the their counterpart.
that said, has anyone here noted the divergences we have been seeing? first the SOX vs the NDX over the past week, and today, the NDX was under more selling pressure than the composite the entire day it seems...if institutions are selling the big names, that might be a negative as we head into next week.
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