repeatedly, whenever resistance was reached, index was retarded, and when index reached support, it also promptly rebounded.
this cannot go on forever.
given the low volume, and a p-c ratio = 1 on the DJX index options and the midway RSI, coupled with DOW trading right at MA50, it appears, no particular bull or bear camp has an upper hand.
however, i strongly suspect that the majority of the sideliners are getting ready to pounce, whichever way the index breaks out of.
it is, hence wise, not to have any range bound positions; such as a Neutral Option Position, a Short Straddle or Strangle in the portfolio in the days ahead. if there is any ratio spreads, be certain to lighten up on the Short side if the ratio is >2:1, you wont want your Short options to suddenly get ITM via gap up or down in the succeeding days ahead.
good luck and wish you huat huat !!!
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