By InTheMoneyStocks on July 18th, 2010 9:03pm Eastern Time
The S&P 500 Index lost 13.88 points for the week ending July 16th, 2010. While this decline in the broad based index does not sound like much, the week was full of surprises. Last week we had mentioned that it was options expiration and the week should be choppy and volatile. As you probably know by now the market tanked on Friday July 16th as options expiration was coming to a close. The decline was for a drop of over 31.00 points on the S&P 500 Index. This decline erased all of the earlier gains from the prior four trading days. Often that is what occurs during options expiration week as the institutional money will usually play a lot of games to catch the novice trader or investor off guard. This coming week should also be filled with many surprises as we are now in the heart of corporate earnings season. So far a decent low was made in early July and price still remains above that level. Should the S&P 500 Index close below that level then this market is likely to experience a lot more fear and selling. Note the SPDR S&P 500 ETF (NYSE:SPY) for an alternative means of profiting from the S&P500 swings.
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