EARNING SEASONS GETS MOVING & MAX PAIN
TSLA & NETFLIX are the big names reporting earnings this week
volatility will be everywhere - implied moves +/- for earnings this week
The monthly expiry this friday and MAX pain is around $430 for SPY
If the bulls fail to rally by October 18, 2023, it's highly likely that we'll witness a strong wave of selling pressure persisting until the 25th.
This is due to dealer positioning being overwhelmingly bearish during this period.
On the other hand, if the bulls managing the SPY can push the price to $441, it's probable that we will experience an extension of the bullish trend to and through the 25/10 into november
Regardless, once we pass the 25th, seasonality factors should come into play, potentially guiding market dynamics as bullish for the remainder of the year.
WEEKEND RECAP
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Last
8,580.1 |
Change
-9.100(0.11%) |
Mkt cap ! n/a | |||
| Open | High | Low |
| 8,589.2 | 8,619.8 | 8,568.2 |
| XJO (ASX) Chart |