Noon update:
Option expiration shenanigans are upon us as they work hard at holding up QQQQ 49. We also have contract rotation in equity futures, so this could be a difficult day to trade. Inventory numbers helped the bull case, but semis and financials are not doing well. It would be surprising to see the day end in the green, especially if oil gets back above 80. But expect many whipsaws.
Watch NQ 2003.50 and ES 1483.75. SPX also has resistance at 1482/1483. VIX 25.44 is important.
Option expiration shenanigans are upon us as they work hard at holding up QQQQ 49. We also have contract rotation in equity futures, so this could be a difficult day to trade. Inventory numbers helped the bull case, but semis and financials are not doing well. It would be surprising to see the day end in the green, especially if oil gets back above 80. But expect many whipsaws.
Watch NQ 2003.50 and ES 1483.75. SPX also has resistance at 1482/1483. VIX 25.44 is important.
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on Friday, September 14, 2007 at 9/14/2007 11:52:00 AM.
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