JP – Well they will just have to wait a little bit or I will have to teach them a lesson. Viewing options contracts in Euro the sell side is of course still dominant but it will take some decent liquidity to push the contracts significantly lower in the short term at these levels in my view. Euro likes to move with the Dow a lot.
US500 1-HOUR CHART (for those using SPX500 the rates may differ but chart patterns should be similar)
There seems to be a lot of interest in stocks today so looking through my charts the one-hour chart stood out with a trendline/resistance coinciding at this hour. This is the closest key area on the upside.
With quarter-end approaching, rebalance and end-of-quarter flows will dominate (note US stocks are closed on Friday)
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