Monday, June 14, 2010

Quad Opex week

I'm out of town until 6/24(back in CO). We have a Quad expiration this Friday. This week I'm looking for the Dow Jones to go UP to 10365, and possibly pin the 10500 strike. On the DOWN side look for support at 10,000 first and then 9900. These numbers line up with the weekly A close above 10365 and we could be back into a bull market mode short term.

On the S&P futures chart above, we see that the September contract found support on the Yearly S1 pivot(blue circles on the bottom of the chart on the purple line marked S1) at 1040. This week look for a test of 1105(YPP) and maybe even YR1 @ 1135.