O a start position on $XLF June 2019 $30 calls, as I cannot exclude the possibility of XLF starting a FOMO run up (route blue)
Although, since that in short-term SPX and QQQ do not have much room, I tend to think route green has a higher chance to happen, and (if route green comes true) I will buy the dip hard on $27.5 area.
At this stage, I am not adding any bullish position on major index (still holding 2020 DIA calls and July IWM puts now), as there will be too much to lose (green arrow) if we really go down from here.
Nonetheless, I think there is a 70% chance bulls will be in control. Today's price move is quite bullish. price jump over double resistances (red pivot) on SPX and...
Well I gave up on watching this yesterday :) . Lucky me.
In my experience this kind of shenanigan (long lower wick on weekly), and the lower end of the wick sit on the red pressure pivot) generally are bullish, but I personally just hate shenanigans and will just hold my 2019 calls. I wont add anymore.
I will still update if I find something worth sharing on this.