Posted: September 18th, 2009 |
Author: Mike Korell |
Filed under: One-Day Market Map | »
Thanks, Mike and ChartsEdge!
Welcome to opex Friday, folks! There's an old saying fir opex days, it's up, down, then out. I think it's supposed to mean those who bought calls and sell puts get to feast first with a price rise early, then the opposite as it slacks off again, then everyone quits early and heads for golf or an early start on the weekend, holiday or whatever. I'm not convinced it's an entrenched pattern, but there it is for your consideration.
The SPX monthly chart's Bollinger Band midline may be working as resistance indeed, and I think Andre Gratian will tell us more about this price level in his weekend update. Meantime, we'll see if the dollar gives signs of finding support at that 75.89 prior swing low level. And I made some posts here last night on oil and natural gas; plus Trader Brian has been sharing trading ideas at the UBTNB3 blog.
Have a great Friday all - happy market navigating!
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