Thursday Levels & Concept
The probabilities of remaining in the current weekly range are increasing as we approach the Friday Opex. Capturing a realistic portion of the Thursday range will be easier if we pin point this week's POC in terms of volume and the recent average daily ranges. We'll keep in mind that this week we witnessed the 1st 1%+ gap down for SPY since August, which should be somewhat of a wake up call for the bulls.
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ROFL = Range of Opening Flow
