S&P 500 Futures Market Update 3/20/09
Yhe S&P 500 market gave up some of its ground gained resulting from the FOMC announcement yesterday. What was more interesting was the extreme indecisiveness and choppy price action in the market. This type of market behavior is common for options expiration week Tuesdays and Wednesdays. By Thursday of options expiration, the market usually starts to behave normally as the majority of traders have rebalanced their options and futures options in new contracts. It almost appeared that the OPEX rebalancing was pushed out a day late due to the FOMC rate decision announcement. Today is Quadruple Witching which is the day that contracts for stock index futures, stock index options, stock options and single stock futures all expire.
| Upcoming Financial News Announcements: | |
| Quadruple Witching Contract Expiration. | |
| S&P 500 Emini ES Futures Market Market Profile® TPO number’s: | |
| UVA (Upper Value Area) | 789.25 |
| POC (Point of Control) | 783.75 |
| LVA (Lower Value Area) | 779.75 |
Posted: Mar, 20 2009 @ 8:45 am
Category: Market Commentary
