Option Expiration and the Vernal Equinox

While the new moon seems to have come and gone without causing a major trend change (it merely reversed last Friday's decline), Satuday's Vernal Equinox -- occurring within one day of Friday's Triple Witching op-ex -- could be the real magnet. The above chart shows both Vernal and Autumnal Equinox dates and both Winter and Summer Solstice dates on the S&P E-mini contract. With the market this stretched, it could obviously turn at any time. But I will give it some lee way into Friday. I continue to buy volatility against calls as conditions allow.