Just thinking about AAPL and options expiration, $500 HAS to be a psychological level of some importance. There are calculators on the web, although I haven't checked one, that will give you their best estimate of the pin, but you want the ones based on actual prices, not open interest because open interest i not always indicative of where the maximum money actually is. If anyone has time to find one of these calculators and check AAPL, please send me an email, if I have time I'll post it, but I'd think $500 figures in the equation.
As for the NASDAQ, Futures and Tech, thy look mildly and increasingly supportive intraday.
Both ES and NQ have intraday positive divergences, they are small and intraday, but maybe enough for the trade mentioned. I think the probabilities have gone up, for me that's not enough with options, they have to look stellar.
QQQ 1 min at yesterday's highs and right now...
QQQ 3 min,bigger picture is negative clearly, intraday is slightly positive. Since the divergence is past 1 min, it is more likely an upside correction than a consolidation.
The other side of the coin is the 5 min chart exerting a strong downward gravitational pull, that doesn't mean we won't see intraday corrections, but this is just some bigger picture information for everyone.
Tech looks similar to the Q's of course on the 1 min
Look at the accumulation in Tech on the 15th, this apparently was an effort to try to help the Q's cross their resistance area like the other major averages did, since the highs yesterday, not so good and not much here right now.
The same thing is seen earlier in the week for Tech and the same 5 min chart is exerting a lot of downside pressure as far as the bigger picture goes.
All of the other average are also supportive of an intraday move up, especially the DIA, but very short term.
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