The overall market has not quite reached an oversold state and by the looks of it I am not so sure that it will. After the closing bell some of the closely watched tech giants came out with postive earnings reports which have led to a substantial push higher in futures. If this holds we could see the typical mid-week, options expiration, positive bias.
Going back two years, the S&P (SPY) has a bullish bias during the week of options expiration, particularly if you only include the trading days of Wednesday, Thursday and Friday.
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