Since then the action has been a little more sideways than I would have expected. After all, if this really was a 3rd of 3rd unfolding it should not dally around. It should get on with it. So while I'm keeping an open mind, the count below is beginning to pick up in the odds. This really won't matter to anyone except those who want to pay low prices for out of the money puts with near term expirations thinking that they don't need much time value because of the 3rd of 3rd factor.
In any case the markets are clearly weakening and I am seeing fits of nervousness begin to show up - something I have not seen in quite a while. It's not panic just yet but people are edging toward the door IMO.
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