I was waiting for my two candles since Monday but the underlaying took a small retraction. Today on Thursday we saw a bullish engulfing. It was rejected at the 229-230 Resistance level. An area with over 100,000 Call and 50,000 Put options. If this level is broken the MM will have to hand out more money to the players. And this, they do not like. The Market Maker Sweet Spot is between $228 and $222. This is were I expect the price to settle for the end of this week. This is the zone where the MM make the most profit.
What do I expect tomorrow OCT 30th?
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