Saturday, May 17, 2008

Option expiration = V day


Sort of an imperfect V-day. Started at a new high, 2041.50... Was that a pivot? Now it is! Then trended lower until finding support at, 1) 61.8% retracement, and 2) anchor uptrend line, and Test2 of a pivot. low print 2012.75, my 2012 bid goes unhit! Not clear sailing from there, because after 2030.25 it pulls back all the way to 2018.25 but ends the day consolidating around 2035 which not so coincidentally on options expirations parks the QQQQ exactly at 50 !

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