spy 103 straddle is trading at roughly $3, this would allow for a 30 point spu move in either direction, no apparent signs of heightened bearish sentiment
1. This market is supported and manipulated by the government. 2. The government has a very vested interested in seeing it go UP, not DOWN. 3. The government has a lot of money, enough to make sure that under normal circumstances a decline of any serious magnitude will absolutely not happen. 4. Therefore, the only thing that will make it go down in any significant way is something that is out of the government's control... the type of news that unexpectedly turns everyone bearish at the same time, on high volume, with follow-through. Look for selling over the course of a couple of days with follow-through and high volume, something that we have not yet seen since the rally started in March. When you see that, the top is probably in, although I expect they will do their best to rally it back up to repair the damage. That will be a great shorting opportunity. Until then, assume that all declines will be bought and we will probably continue to work off overbought conditions in a trading range.