Quarterly expiration is upon us, and many of the nuances of witching expirations were out in full force. We’ll cover some of that tonight along with a few spreads to consider for the expiration, and an outlook into the next couple of weeks.
In this video we look at the crazy rip higher today from the FED meeting and Powell’s speech. We look at the charts and I only see one way to play this market and it is higher. We have had many head fakes but it looks like we reach up and tag some new all time highs. I show a trade idea for the end of the year and my SPX target of 4800 to 4900.
In this video we look at the crazy rip higher today from the FED meeting and Powell’s speech. We look at the charts and I only see one way to play this market and it is higher. We have had many head fakes but it looks like we reach up and tag some new all time highs and my SPX target of 4800 to 4900.
Santa’s good little elf, Jerome, seemed to have delivered today and the indices responded to the clarity of a May/June hike window. In the meantime, the Russell has bounces from its oversold Darvas level, and here’s the expectation for follow-through if you are a bull OR a bear.
The bellwether large cap index took off to the upside after today’s FOMC announcement and didn’t look back, taking out Friday’s high in the process. That likely implies taking out the all-time high from November, and we’ll look at how much more we might expect.
With the year-end rally on shaky ground and traders doubting they really believe in Santa, buyers are not stepping in yet. Will they and where? I discuss that in this update.
Does the rate hike stay firmly planted in June? There are plenty of trends that frankly don’t care, and I explain what to do with those trends that will benefit from the path the Federal Reserve has the market on.
