thursday options expiry, page-32

Thommo

A 12 period ma on monthly for the S&P500 has been a great bull/bear delineator for years.

As of June it will be down to the high 900's although monthly close is more important than intra month.

So if the market gets up around 1,000 then I think that might be a great sell. That reminds me, I saw a technician of note sometime back who reckoned the target was 999. Well 666 was the low.

I am not convinced we do that. Time seems most important and 3 months is all I see as any chance to be higher.

There seems to a wide gulf of opinions out there, even amongst those worth listening to.

Mahendra who can be very wrong but has some great calls says the US markets are going to rocket to new highs although I note he calls for a 10% pullback here first.

Others like Bob Hoye say disaster lies straight ahead etc.

Probably means it does what I expect and go sideways for several years.

That means if the range is big enough they can all claim victory at some stage or if its narrow then no one wins. More likely the former.