Don't most of the effects of the options expiration occur at the open of the market? If so we are just treading water here awaiting the next catalyst to confirm a direction.
W/ gov't action providing most of these catalyst lately, I'm still leaning toward the notion that nothings changed since yday. Concerned that following the german parliments approval of the euro rescue bill there is no bounce in the euro and their mkts.
An orderly test of the "flash crash" low in S&P still not in place, imho. While there's flippant commentary that we tested it on the open today, I still stuck on the notion that those afraid to hold thru the weekend will force a weak close or at least an orderly retest of that S&P 1050 "support". Thoughts?
plz correct me if im wrong. tia
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