For the second day in a row, the indices covered up some very poor action under the surface. Unlike yesterday, we actually finished in the red. The key leadership stocks continued to act toppish after a brief morning pop. I don’t have the stat, but I did remember scanning on line that December option expiration on Thursday have a bit of down side edge. Are we due for a Thunder Thursday? Jeff had mentioned the SPY 123 area as next support if we do head down. I think that is a good target and 122 will be just gravy. I also see some cool indicators from Market Rewind and CSSAnalytics flipping to the long side, perhaps a down Thurs would provide the opening to initiate some longs into a typically bullish December option expiration Friday?
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