Before the Open

Good morning. Happy Friday. Happy Quadruple Witching. Today, the following contracts expire: stock index futures, stock index options, stock options and single stock futures. Two things played out yesterday. Resistance at SPX 800 was too stiff to overcome. The level was approached on Wednesday after the FOMC and then again at yesterday’s open. The index […]

Before the Open

Good morning. Happy Wednesday. Happy Fed Day. Today the FOMC is supposed to decide and announce what their target overnight rate is, but since they’re already pegged it between – and one-quarter percent, there is no suspense. This should be a nonevent, but you never know. They may say something unexpected in their statement. Strong […]