Sunday, May 23, 2010
SPX - possible range trading ahead (May 23, 2010)
Option activity on the SPX is indicating a possible consolidation week.
In one of the scenario that I analysed, we could see trading somewhere near to SPX 1100. All indications point to some form of volatility squeeze play. So keep an eye any rapid decline on the VIX.
On any directional moves, it is still fairly early to tell.
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