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| Volume: Green: Calls; Red: Puts (Log scale) |
The burden of geopolitical instability weighed down on market optimism today despite a late-day market rally and the Nasdaq finishing firmly in the green. The $VIX increased a quarter point with calls sales outpacing puts nearly 10:1.
Will the S&P500 hold the 2000 level?
Puts outsold calls in $SPY by more than 3:1 today. Based on the spread of sales in out-of-the-money contracts today, the market is saying no:
One final chart I'd like to show is the Eliades New TRIN courtesy of market-harmonics.com:
"The rule of thumb is that a move from below .80 to above .80 signals that selling is likely within the next few days." (Link to description of TRIN)
Please remember that geopolitical risk still looms around the corner and that markets have strongly shrugged it off. Good luck tomorrow.
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