Monday, September 13, 2010

Triple witching / Quad Ex week

This week is Quad / Triple witching week. Look for strike prices to get pinned all week. Last week the S&P and the Dow Jones consolidated the previous weeks big rally. This week look for that rally to continue. First resistance this week are the open gaps at 10615 and 1120 on the S&P, and 1916 on the NDX. Above those are more open gaps at the 10700 strike price and 1128 on the S&P. The Monthly R1 pivot should be support this week. I'll get some charts up soon.