Today's closing numbers are quite interesting:
DJIA 10397.46
NASDAQ 2002.17
S&P 1128.84
All three are very close to good round numbers: 10400, 2000, and 1130. Why? probably because the Wall Street big shots want them their for their index options! Remember today is the last trading day for index options. The possible explanation for the end-of-the day jam is these big shots had to jam the market to their desired numbers mentioned above. Otherwise they have to pay for the index puts and calls they sold over the past several months.
Prediction for tomorrow: QQQ will close around 36, possibly high 35 as long as no major news broken out overnight.
DJIA 10397.46
NASDAQ 2002.17
S&P 1128.84
All three are very close to good round numbers: 10400, 2000, and 1130. Why? probably because the Wall Street big shots want them their for their index options! Remember today is the last trading day for index options. The possible explanation for the end-of-the day jam is these big shots had to jam the market to their desired numbers mentioned above. Otherwise they have to pay for the index puts and calls they sold over the past several months.
Prediction for tomorrow: QQQ will close around 36, possibly high 35 as long as no major news broken out overnight.
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