QUAD Witching–Trading usually S&*KS

By: Scott Redler

It would be interesting if the option guys could close us around 1,100 on the S&P–which would pay them well.

Seems pretty crazy that the S&P is near 1,100, yet it feels like there is some real technical DAMAGE everywhere.

• Banks have lagged and price is now breaking down.

• Oil is only $74-75ish with everyone raising next year’s target to $110.

• OIH is only bouncing off support ($110)–XOM is getting crushed.

• Gold just had a $100 or so drop from highs.

• Not many big cap tech stocks have strong patterns for breakout moves.

• Agricultural stocks just got crushed from highs.

• Solars are just off their lows.

• Online educators are whippy (CECO)

THAT BEING SAID–we are only 20 handles off of highs in the S&P. At least high level management at banks can now get the large bonuses they think they deserve.

It remains a very selective trading environment, with 1-2 day strategies working well both long and short.

HAVE A GREAT WEEKEND!