WEEKLY MARKET DIGEST: S&P 500 RE-BALANCING ON TOP OF QUADRUPLE WITCHING
(The Weekly Digest reproduces the morning capsules made available every morning before the market open in the Real Time Feeds to the paying subscribers.)
S&P 500 RE-BALANCING ON TOP OF QUADRUPLE WITCHING
September 21, 2012
In addition to quadruple witching, today is also the day of S&P re-balancing. In quadruple witching various options expire.
In S&P 500 re-balancing, 350 companies will be bought and 150 will be sold.
These two events will generate buy pressure in the markets and sustain the overbought conditions.
Gold futures are at $1785, silver futures are at $35.15, and oil futures are $93.49.
S&P 500 resistance levels are 1472, 1480, and 1500; support levels are 1450, 1444, and 1439.… Please click here or the title below to read more.
September 22, 2012