4160c were short today and 4150p for tomorrow. SPX came down to test the daily breakout at 4130. If we hold 4130, should get back to 4150-4160 tomorrow. If 4130 fails, expect to see 4125-4115-4100 below.
Market outlook for this week based on option volume traded on Friday April 28th. Decent chance for a 4200 breakout with a top at 4225. Break of trend below 4150 could invite 4100-4050.
Still, in a bear flag to me, the next few months will be big!
With the government coming back from the longest shutdown in history. We could still be expecting blowbacks from the affected sectors and companies. So what better pattern to complete this mash-up than a head and shoulders.