Many option expirations result in a tight range but not today. Today they gapped down and kept going. I’m thinking we are at or near the first impulse down from the wave [II] from yesterday. Support to watch for in SPX at 4444-40 and 4425.
I suspect we are near the end of the first five wave down unless wave V becomes extended. Here is my count using futures.
Taking a quick peek at bonds, they are under pressure again which I like to see.