Trader Market Trend

CBOE - S&P500 Index Option Volume - 5th August
Call        Put
91804    229156

S&P500 Index Option Put to Call Ratio : 2.5 times (plan profit from range bounce on Friday after index surge to 1125.81 at closing hour and the weakness norm before the weekend). S&P500 index range 1118.81 to 1126.56 on Thursday and closed at 1125.81.

Equity option was 0.625 times (reversal of index option) after market closed. Sign of sideline money gradually buy stocks on dip. Let's watch Friday CBOE intra volume for sign of continuation.

Market Trend : Consolidating and testing S&P500 resistance 1130 this week. Likely break 1130 next week and move towards 1145/1150 resistance (likely range bounce for short term and test next uptrend resistance unless surge with high volume).  Trader will likely adopt the same strategy next week for daily range bounce PUT Option profit but be prepared for the Unexpected coming soon.

Take a break here till next week.