Despite a prominent classical head and shoulders top pattern present on the major US indices we have seen a strong bullish move over the course of the last few days. This very inconveniently for all the short sellers coincidentally coincides with quadruple witching happening tomorrow where all four asset classes, which include stock index futures, stock index options, stock options, and single stock futures will expire simultaneously.
And looking at the chart it is clear that there are a lot of shorts in the 34k zone that will expire out of the money tomorrow should we continue any higher. This will effectively provide the liquidity for the next big short.
And looking at the chart it is clear that there are a lot of shorts in the 34k zone that will expire out of the money tomorrow should we continue any higher. This will effectively provide the liquidity for the next big short.