heading into December option expiration day, the market is most likely get pin at the 1100 level on the S&P 500 index. In a longer term, Thursday’s trading action suggested strongly that the market is headed for a retest of the bottom of the 5-week trading range, around S&P 1080.

今天是12月份的期權到期日，市場很有可能會停留在標普500指數的1100點附近。從更長期來看，週四的行情強烈預示著市場打算重新測試5周來交易區間的底部，大約在標普的1080點

Thursday’s trading action suggests that the bulls still in charge. Although bear in mind that tomorrow is the August option expiration day so unless there is a headline that everyone recognizes as extremely bullish or bearish, we should have a relatively quiet trading session.

週四的行情意味著多頭依然掌握主動。不過我們需要注意，今天是8月份的期權到期日，因此除非有重大利好或利空消息出來，行情應該會相對平靜。

Wednesday trading action suggested that a short-term downside correction to recent advance could materialize. Although given that the long-term trend remains positive, a modest pullback would be seen as healthy and will setup a much more potent buying opportunity