US500 at Record Highs: Caution Ahead of Options Expiration
The US500 recently reached a new all-time high near 6700 but quickly retraced back to 6570. The index managed to recover most of those losses, climbing again toward 6680.
In my view, however, we could be approaching the start of a downtrend that may develop by the end of the month.
In my view, we could be on the verge of a short-term downtrend soon, which could be created by the end of the month.
Today marks not only the end of the month but also the close of both monthly and quarterly data.
For indices, this coincides with option expirations, which often increase market volatility. Given the prolonged upward trend, these expirations could trigger corrective moves, so caution is needed.
You may find more details in the chart!
Thank you and Good Luck!
❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️
The US500 recently reached a new all-time high near 6700 but quickly retraced back to 6570. The index managed to recover most of those losses, climbing again toward 6680.
In my view, however, we could be approaching the start of a downtrend that may develop by the end of the month.
In my view, we could be on the verge of a short-term downtrend soon, which could be created by the end of the month.
Today marks not only the end of the month but also the close of both monthly and quarterly data.
For indices, this coincides with option expirations, which often increase market volatility. Given the prolonged upward trend, these expirations could trigger corrective moves, so caution is needed.
You may find more details in the chart!
Thank you and Good Luck!
❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️
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✅MY FREE Signals Channel
t.me/TradingPuzzles
✅Personal Telegram
t.me/KlejdiCuni
✅Suggested News Channel
t.me/ForexNewsNavigator_Official
t.me/TradingPuzzles
✅Personal Telegram
t.me/KlejdiCuni
✅Suggested News Channel
t.me/ForexNewsNavigator_Official
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.