S&P 500 Feb 14 to Feb 18 Outlook
1320 upside target tagged first thing in the week. Struggling at 1320, eventually fall back down to Y+1. The test confirmed its strength and that put Y+2 in play and all news shock could do was delaying the inevitable to happen on Friday with even more explosive strength as shorts are trapped. Closed at Y+2.
Option expiration likes to tag round numbers for ES and SPX. And then swinging 10+ pts around these numbers. A quick zoom to B+2 (1340) is not out of the question and selloff to B-2 at 1300 is also in the card. Pay close attention to the round number levels (1300, 1310, 1320, 1330, 1340) to participate in the swings.