Morning Commentary for Thursday Mar 18, 2010 – Markets are flat

by Tom Nunamaker on March 18, 2010

Reports are out for today with little reaction by the markets. Futures are flat into the opening. The US Dollar gained ground overnight. 30-Day Fedheral Funds are down slightly. Gold is flat. There doesn’t look like much left to move the markets today. I would expect a relatively quiet trading day.

ES futures are about four points below the latest highs. 1170 is a strong resistance level. If prices rally above it, that would be another signal to go long. If you’re an income trader, don’t ignore the big up trend anticipating a pull back. Respect what the market is telling you and protect yourself on the upside!

Quadruple witching is tomorrow. This is when contracts for stock index futures, stock index options, stock options and single stock futures all expire! This event CAN cause extreme volatility in underlying stock prices as well as the overall market.

No economic reports are due out tomorrow.

Quadruple Witching

Quadruple Witching

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