By InTheMoneyStocks.com on June 20th, 2010 12:32pm Eastern Time
The S&P 500 Index gained nearly 26.00 points for the week ending Friday June 18, 2010. This move higher took place during a quadruple witching options expiration week. This is when expiration's will take place in stock index futures, stock index options, stock options and single stock futures. Therefore, there is usually a lot going on during this entire week of trading. It is also important to remember that many in the public became extremely bearish in early June and bought a lot of puts on the market. Rarely will the powerful institutional money allow the small retail trader to collect on such an investment; the institutions will usually rip the market in the opposite direction of the popular strike price. As of this time the market indexes are bouncing higher purely due to the U.S. Dollar Index declining. When the dollar dips or declines the stock market indexes rally or inflate. The short term weekly resistance levels on the S&P 500 INDEX,RTH (INDEXSP:.INX) will be around the 1122.00 area and 1140.00 level. Traders and investors can utilize the SPDR S&P 500 ETF (NYSE:SPY) as an alternative means of tracking the S&P Index.
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