Options Rollover Day


Futures Options have now rolled over from the March 2019 to June 2019 contract with a difference of +5.5 points from ESH19 (March) to ESU19 (June).

All previous chart numbers have been adjusted to reflect the new contract pricing—so, for example, the Top Spotter from the expiring March contract at 2819.75 now becomes 2825.25, and so forth.




click image to enlarge


In my previous posts I pointed out that the target for the push up from the powerful Bottom Spotter low in December was most likely going to be the descending top rail of the long-term range envelope.  For the expiring March contract, that target was 2818.  With today’s S&P 500 Futures Option rollover to the June contract, that target converts to 2823.50 (+5.5).

…the Top Spotter signal was generated at 2825.25.  Smiling Face With Sunglasses on Apple iOS 12.1


So, here we are today at quarterly rollover (after one of the greatest 3-month rallies ever!) now watching to see if the Top Spotter will be confirmed by a daily bar close beneath the spotter signal bar low, which was 2773.

That is the line in play now.  A close below would confirm the spotter and the next likely major target lower would then become rising intermediate range envelope support, which is currently at 2686.25.



click image to enlarge


While not quite as impressive a number of Top Spotter signals (1015 total active) that we saw at the corresponding December Bottom Spotter low there are, nonetheless, quite a few Top Spotters showing up in the Russell 3000 stocks (see screen capture above).  A direct link to the image above is here at Stops and Targets.

It’s all about 2773 today, as we watch for a possible Top Spotter Confirmation.

…my .02