Meta Strategy Derivatives Portfolio – Probability Map Update.
I usually don’t lend much weight to any one technical chart pattern, but the emotional rollercoaster ride of a sudden correction is an exception.
The market’s turning point last week was anticipated by the correction pattern setup with an uncommon level of accuracy.
But now the S&P 500 is stuck in the middle between strong support and overhead resistance.
At the same time additional market data is largely supportive over the long term, but probabilities are all over the place over the short term.