Options Rollover

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Futures Options have now rolled over from the December 2018 to March 2019 futures contract with a difference of +4 points from ESZ18 (December) to ESH19 (March).

All previous chart numbers have been adjusted to reflect the new contract pricing—so, for example, the Bottom Spotter from the expiring December contract at 2583 now becomes 2587, and so forth.

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click image to enlarge

 

S&P 500 Futures are still working off of the stop sweep poke below 2607 on 12-Dec.

The key line to watch going forward is the short-term stop/reverse line, which is presently located at 2652.50.  A move back below that line would flip the short-term back to bearish and could usher in a test of the low at 2587.

Bulls are good to go above 2652.50 but the bears would resume control underneath.

As I pointed out yesterday, there are two more events coming in quick succession that will dictate what the market does…

  1. The FOMC global socialists will issue their interest rate edict at 2 pm on 19-Dec
  2. Options Expire on 21-Dec (quadruple witching)

…my .02

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