Today kicked off a great start to 2011. Typically we don’t see the majority of volume return until after the MJK Jr. holiday, but a good way to gauge the day ahead is to look at the first 30-min bar of the S&P Cash Session (9:30-10:30 AM EST). Over 150,000 contracts traded is a signal of good participation, 200,000+ is great participation and a very liquid market, anything below 150,000 is cautionary and below 100,000 is a no trade day.…
Thanksgiving week is here, which means the markets will be closed Thursday and a operate on a half day Friday. Monday is bleek for news, but Tuesday we have GDP and slew of news on Wedsnesday as well. Historically the day before thanksgiving is almost always an up day. Pretty meaningless for intraday trading, but a little something to make note of.
A great week ahead with options expiry on Friday. Everything will come down to the high or low of last Friday. If we break the high expect to make new highs on the year, if we break the low expect us to continue drifting lower.
A light week of news ahead relative to the monster truck rally of the fed last week. Ben Bernanke announced Wednesday that the US Central Bank it will buy $600 billion in long-term Treasuries over the next eight months. What is Quantitative Easing? Quantitative Easing or QE is a monetary policy implemented by the central bank to increase the money supply in the US Economy. In essence, the printing of money, except instead of printing pieces of paper with Lincoln,…
Another week packed full of news including FOMC Minutes Wednesday. Looking to finally break out of the range we have been in for the past few weeks. As the month of October comes to a close, we see a market that has been very resilient of a pullback. Since we put in highs in the S&P futures at 1193 we have seen a market that has been quite choppy. With targets at 1201 which should be reached this week, don’t…
We have seen a lot of chop around the S&P 500 $1180 level. This can be expected as we are in the midst of earnings season. We should see a break one way or another this week especially with GDP on Friday. As a clue to the direction of this break we look to the VIX and as of late, it has been on the decline, holding in the upper teens. In order to sustain new highs we would need…
News for the week… Alcoa (AA) kicked off earnings season last Thursday so expect a moving market over the next few weeks. Nothing on the news docket for the first three days of the week so we are expecting a continuation of the current trend. The VIX dropped significantly today breaking into the teens. As the saying goes, when the VIX is low lookout below. This also makes it a good time for option buyers as premiums decline. As always,…