By InTheMoneyStocks.com on August 15th, 2010 6:20pm Eastern Time
The S&P 500 Index, SPDR S&P 500 ETF (NYSE:SPY) declined sharply by over 42.00 points this past week to close at $1079.25. Next Friday August 20th is options expiration and often during the week leading up to expiration the markets will be very volatile. This is a week during the month that the institutional money that moves markets try to shake out the small retail options trader. Please be aware, very few options get exercised and often settle or closed out long before the Friday expiration. Therefore, look for the coming week to be choppy and volatile. This week could be trend-less, however, the short term trend is now looking down again after staging a sharp 10.0 percent rally from early July. The weekly support area for the S&P 500 Index is around the 1040 level.
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