Guess it will be an up week for sure next week, unless some unforeseen event occurs. But that cant stop the US equity markets, nothing can, oil,rising rates,war in the middle east. yep up week for sure next week.
Its going to be interesting for sure. The qqqq's have huge put support at the 36 strike. However there isnt much support for the spy. Iwm has a ton at the 68o strike. It will be an all out effort to get those strikes to expire in the money. if we get a huge sell off tomorrow or monday then it could be a buying opp, but if the market gives way the then the ndx will be at 1300 quickly and the russell at 620. basically a may implosion. I think the sell off in energy is bearish for the market. thoughts?
Up week next week almost guaranteed. all indices down for the week. Next week will be up just wait and see. I am so confident I am holding 5 Dow Mini contracts long over the weekend, no sweat.
Don't be too sure. Just because it's an expiration week doesn't make it a case for an uptrending market. Hope you have stops. The market will do what it wants.
I think you should look at the charts over the past 3 months...the index markets have been in a solid pattern of making aggressive moves LOWER during expiration week. June being a minor exception, however, it produced the low print for the SP on the Weds. of expiration week.
Don't destroy the poor chap's hopes. He's convinced himself it'll go up next week, so he's obviously going to be correct.