“The long wait to cross a round number bears thinking about as the Dow sits on the cusp of 50000. While there’s nothing magical about them, milestones exert a psychological pull and often seem to be breached when stocks are frothy.”- The Wall Street Journal, Jan. 13, 2026 January expiration week is behind us, and there was only one weak attempt at the S&P 500 Index (SPX – 6,940.01) 7,000 level, a strike with a plethora of call and put open interest (OI) that could have created pinning action on expiration F ...