Friday, September 21, 2012

Quadruple Witching Day - A Helluva Boring Session!

Quadruple witching day (stock options, stock index options, stock index futures contracts, and single stock futures expire on the same day) wasn't really a big event. The only striking thing was the gap up small caps started with, compared to the other indices. So while small caps were a laggard yesterday, they were leaders today, finishing 0.4% higher with S&P500 closing 0.6% lower.

5m-chart SPY:



Daily charts DIA, SPY, QQQ and IWM:



Euro, oil, metals
The euro is stuck to the 1.30-level for now, up a little bit from yesterday.
Metals were mixed with copper bouncing from yesterday's losses, up 0.5%. Gold was also up, but only just and silver went down.
Oil tried to go higher just before the opening of the session, but couldn't hold on to the gains and is holding on to the 93-level.


Have a great weekend!

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