options expiry thursday

Posted this chart a few times so here is an update. 52 MAV is being dragged upwards by our sustained high so my goal for the current action has changed to around 6300. 38.2% retrace of aug low and latest high is almost exactly 6300. RSI suggests we should be moving down a little faster than we are but will probably pause at the middle of the envelope if it is going to continue lower. A pause allows the RSI time to recover and then drop lower. The other option is a retrace to the mav (or 38.2% retrace) and then upwards. The RSI has the room to make it to a 50% retrace in this move too. Yesterday's peak may have been the place to short with a 6300 goal in mind. I did short it but took a good short term profit as this market is pretty indecisive at the moment.