The S&P500 SPY is transitioning higher, with open interest building overhead at 355 (+/-). Calls continue to pour in near this strike, with the S&P500 painting a similar picture at 3557 (+/-). November OPEX is two weeks away (11/20).
Resistance Shifts to 355 with 340 offering support as more calls continue to fill in at both levels this week. RSI is back above 50 as well. Major volume by price (VBP) support aligns with these observations as well.
Stochastic is turning from oversold. MACD is lagging but heading in the same direction, while volume builds.
While everyone has an opinion, the data suggests a bullish picture into November OPEX. Price is King. Opinions not so much.
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