1) Libor-OIS Spread Falls to Lowest Since Lehman on Cash Infusions 2) USD / JPY touching monthly lower BB 3) T-Bonds up 4) SPY Jan 83 and 85 strike very high open interest Expect sideways price action
Option expiration week leading up to Day the Great One will be Annointed. I expect more bad news - earning, Mid East, weekly unemployment, economy, geopolitical etc, but a rally from 867 or even lower. Not straight up but choppy action that will be difficult to trade, and then the big move down. Support at 867 and as low as 845 (S3)
I have been posting MC charts --- how do you save TOS charts? Prophet charting is inconsistent. Thanks.
The low volume problem persisted today. So definitely not a new year week problem. Remember the bear market years 2001 - 2002? Volume on stocks goes to almost nothing causing multiple market making firms to belly up. Not sure if it is a sign that people are moving away from stocks and indices as mentioned here by B1S2. Edit: Another possibility - almost everyone who has an opinion to long/short overnight had already done so.