I am of the view that S&P 500 will close below $6,875 which is the Fibo 38.2 level on the Fibo Extension charting. The S&P 500 has been up for the last 2 trading days and I am of the view that it will take a breather before it goes higher. The $6,923 level is a key resistance zone , where it has been tested twice and it failed to overcome it. Unless there is positive catalyst, I am of the view that the S&P 500 will close below this key resistance point of $6,923 as we end the year 2025.
Taking advantage of this support and resistance, we can deploy an Iron Condor options strategy , which is neutral in nature yet taking advantage of both short term support and resistance point as below. The premium received is considerably juicy , taking into account the potential Max Profit is about 3X its potential max loss.
Taking advantage of this support and resistance, we can deploy an Iron Condor options strategy , which is neutral in nature yet taking advantage of both short term support and resistance point as below. The premium received is considerably juicy , taking into account the potential Max Profit is about 3X its potential max loss.