A Whole Lot Of Nothin’
Stop, I think somebody turned back the calendar to August. We have a range of 1510.50-1516.50 in the SPZ. The highs were seen within the first 15 minutes of trading. On days like this (just prior to option expiration), it means we will usually trade back to and through these levels in the afternoon.
How does the trader play the rest of the session? Simple…don’t trade until the afternoon, and look for a final hour rally to take us towards the 1525 level. In the meantime, I would avoid this trade at all costs, as it is one of the most local-dominated, choppy sessions I have seen in a long time.