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SPX dipped below the weekly L1 on the quant pivots which is an extreme move, but it managed to close back above. If we get a retest of today’s lows on Friday that can provide a good opportunity for a day trade as we look for a reversal. In this video I’ll walk you through what I’m looking for on Friday to play a possible bounce.
Butterflies are my bread and butter, so take this from someone who trades them daily: if you missed Henry’s session on Unbalanced Butterflies, watch the replay. He walks through how he skews the structure to pull income out of 0DTE without needing the market to pick a direction. That’s exactly the kind of edge I want in a chop-heavy tape like this one. Watch the replay here: