Support @ 1700 looks weak & it can turn into a strong resistance
Sell S&P 500 around 1696 for less than 30 minutes expiration if it stays below
Risk: 1696 is not a very strong resistance but it failed to break above 3 times
Results:
Sell S&P 500 @ 1700- won
S&P 500 hit 1699.80, failed to break above @ 1699.69 & dropped sharply, expiring @ 1697.63 at 1:30pm EDT, 1695.19 at 2pm EDT
Sell S&P 500 @ 1696- won
S&P 500 hit 1696.02 & dropped sharply, showing that it's possible to break above 1696 but sellers are stronger than buyers
S&P 500 then broke above & reached 1697 for a while but dropped sharply again & expired @ 1694.54 at 3:30pm EDT
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