We have a quadruple expiration day on hand today, and it is not usually wise to day trade. We also have a looming Chinese economic meltdown, rumblings of World War III, the military general-led coup we recently discovered here at home, and a relentlessly stubborn bioweapon scamdemic still on tap. Other than that, all is well.
What should we do? Buy, buy, and buy more!
In all seriousness, we have a four-day balance area bounded to the north by 4483.50 and south at 4425.25. Perhaps not today, but we need to go with the break-out in either direction and target double the range. Of course, we will watch for the fakeout.
I will have more to say over the weekend, but it has paid to buy the dip once we have concluded the dip is ending. Lately, it has been ending with monthly options expiration. Today, we get weekly, monthly, and quarterly with both options and futures. Maybe that makes a difference, and maybe not.
Pull out your Balance Rules and use them on either end of the range. Otherwise, use responsive trading to day trade the range if you are inclined to trade today. Plot a VWAP or use a Volume Profile for responsive trading. You might even merge the four days in a volume profile on a separate screen.
Have a great weekend.
A.F. Thornton