Friday, June 19, 2009

06.19.09 - Topsy Turvey

The morning expiry trade provided some serious directional volatility both ways, making for very clean and profitable day-trading on the S&P500 contracts. Just now, the SPY slide has been arrested by the flattish five-day moving average on volume, with Cumulative Tick and the Advance - Decline lines attempting to repair damage. Interestingly, Up Volume continues to outpace as well, and -- as suggested by today's title -- we once again have substantive index variations with NASDAQ100/ QQQQs leading strongly this go even as the SPYs are underwater.

Update: A reader makes a good point I had forgotten to mention when I first wrote this up - SPY went ex dividend today to the tune of $0.52.


Anonymous said...

Anyone notice the difference between SPY and yesterday's SPY close? I think it went ex-div yesterday.


Jeff Pietsch CFA said...

Great comment, I completely forgot when I wrote this, see revised post.

Anonymous said...

Actually, I think today was the ex-date. Div was $0.52.