The collision of global markets and social mood

Friday, June 19, 2015

Friday -- Op-Ex & Four Witches

ES Futures:
Holding yesterday's gains.

News:
Op-ex today. Quad Witching, too. So be careful. More below...

As expected, Greek banks runs are foiling any hope for Game Theory.

China down another 6%. Can still fall further and have nothing wrong with it.

FX:
USD & JPY firmer, EUR and AUD weaker.

Treasuries:
Issues remain. Sloppy charts. Prices still look vulnerable but perhaps not just yet.

Energy:
WTI crude and NG both weaker. Crude failed to hold 60.

Metals:
Gold is either hours away from another rollover, or slowly building the wave structure for 1232.

S&P Outlook:
A good day yesterday -- above the gap, volume shelf, and 2121.92 swing point. Failed to close above the swing point, but good action nonetheless. Even breadth (A/Ds) and ticks played along.

So where are we now? Possibly in wave "A" of an ABC to a new high (2150 area). If correct, "B" could start at any time. And 2072.49 should not be messed with. In fact, if price gets below 2106.79 without a new high, run.

After all, it's Quad Witching. For starters, SPY went ex-dividend overnight for $1.07.

Still want to use SPY for technical analysis?


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