Levels To Watch


Short term support is now at the 1576 and 1552 pivots, with resistance at SPX 1593-1598 and the 1614 pivot. Short term momentum hit the most oversold it has been in a while. The short term trend is down for now, so getting through that 1614 will be key for the bulls.

Today is quadruple witching, so anything can happen. Historically, I’ve been chopped to death trading option expiration days, so maybe I’ll do an occasional scalp, but will probably wait for next week to place any significant bets.

We are getting a bounce this morning. The Yen continues lower and the Nikkei has reversed higher after being down. Japan is acting better overnight on hopes of more easing.

See you guys in the chat soon.

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