We all know that tomorrow is a QWD (Quad Witching Day) which defined by investopeida is
"refers to a date on which stock index futures, stock index options, stock options, and single stock futures expire simultaneously. While stock options contracts and index options expire on the third Friday of every month, all four asset classes expire simultaneously on the third Friday of March, June, September, and December."
While we don't know for sure what tomorrow will bring...we can look at where we stand currently so that we can be best positioned for which sectors to look for movement in.
The NQ -
after an EOD sell off, we currently sit right back at a strong support level (I have it pulled up on a 4hr, but the Daily chart shows it as well)...
we've had strong breaks downward of this support only twice, and have had six bounces off it.
While I believe that sectors out of tech will have their time to shine this year, I don't think that tech will just flat out die...
with that said, 12750 looks to be a strong level that we should hope to hold & bounce off of overnight / tomorrow...
I'd say the odds are in our favor with bulls stepping into action around this level consistently, but with, rotation possibility, bonds having crazy action, and market uncertainty in general you can't be too certain.
"refers to a date on which stock index futures, stock index options, stock options, and single stock futures expire simultaneously. While stock options contracts and index options expire on the third Friday of every month, all four asset classes expire simultaneously on the third Friday of March, June, September, and December."
While we don't know for sure what tomorrow will bring...we can look at where we stand currently so that we can be best positioned for which sectors to look for movement in.
The NQ -
after an EOD sell off, we currently sit right back at a strong support level (I have it pulled up on a 4hr, but the Daily chart shows it as well)...
we've had strong breaks downward of this support only twice, and have had six bounces off it.
While I believe that sectors out of tech will have their time to shine this year, I don't think that tech will just flat out die...
with that said, 12750 looks to be a strong level that we should hope to hold & bounce off of overnight / tomorrow...
I'd say the odds are in our favor with bulls stepping into action around this level consistently, but with, rotation possibility, bonds having crazy action, and market uncertainty in general you can't be too certain.