Friday, July 17, 2009

07.17.09 - Narrow Range Options Expiry

Volatility and range are unusually low this options expiration day. Of course, we had our big fireworks earlier in the week? Though internals opened with a negative tilt, they are now recovering and look supportive of a neutral to positive afternoon session. However, being OPEX and as overbought as we are on the daily time frame set against this big-mo, really anything goes! I do note particular weakness in the Financials (XLF).

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