A.M. Bounce to Yesterday's Close Likely

As in the Maximum Pain Options Expiration pin area, typically near Thursday's close and Friday hands in the area until about 2 p.m. when moist options contracts are wrapped up, after 2 p.m. is when we get some of our best 3C information for forecasting the week ahead.

So far...

 Today is the first day all week the Most Shorted Index (MSI- our own custom Index of Most Shorted Stocks) didn't ramp on the open.

These are former opening ramps and the afternoon weakness/decline vs the SPX, yesterday was the worst all week, even though this has been a trend developing since mid-week.

 Opening indications look likely for near term moves toward yesterday's close and the max-pain options expiration pin.

 QQQ is a bit weaker here as it has been under distribution, right now it is in line.

The IWM looks to bounce soon intraday.

The larger picture for the bounce area, QQQ 10 min has shown a clear 3C negative divegrence,  contradicting price and forecasting a move lower.

The same is true of the SPY 10 min, you can see the original bounce we called for SPX.


 And the chart I've been most interested in, the IWM 10 min which is deteriorating, a closer look at the far right side...

Here's the weakness.

In any case, there are a number of stocks I'm looking to short in to higher levels, Z, TWTR, FB, ertc, you probably remember the list, but there are hundreds more.