Expiration week has been positive for four months in a row. Historically, it would indicate a strong probability of a down week this month as we have not seen four up months in 18 months (chart courtesy Schaeffers). There are also a significant amount of puts below us, normally support, but as discussed over the weekend, should these lower levels get penetrated we could see a selling stampede as put sellers hedge. Bulls cannot let support drop this week.
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on Tuesday, June 17, 2008 at 6/17/2008 10:19:00 PM.
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