Current support for TNA is at 103.97 or .618, chart here (link). That’s all we can say based on EWA right now.
There is no much help from open interest either, PCR is at 2.501, yesterday’s change in open interest was executed into inversion territory CPCR: .627, the short term razzmatazz wave shows a downward path from today, December 22nd, into Wednesday December 28th, so, whoever pushed long trades yesterday is wrong or the razz waves are clearly inverted.
Last big trades reported were mixed:
SPX June 30th (Q) 2,500/2,600 call spreads, 19,600X for $11M buy, executed on December 20th followed by another big trade Jan 25th 225s, puts, size buy at >$2M.
So the big bets are on the long side for now, but they have bought enough time to get paid.
Moore’s 2C-P went up to 82.20, high, but stable with a high outflow of money. We have to watch if yesterday low marked a local bottom.
Market continue being cyclically oversold based on FNG charts.
