Welcome back my friends to the show that never ends.......well for a quadruple witching week this was mild to say the least. We did have some chop chop today and a nice bull charge during the last hour but for the most part it was just a continuation of last week. The SPX chart below always tells me the story for where I am and where I want to position myself to be for the next week. Looking at the daily I threw on an Andrew's pitchfork and my trusted old Person's pivots set to the option expiration time frame. Note how todays action came down to rest right on top of R1 and is right in the middle of the center and top tine of the fork. It now has a clear unbiased stance for the opening on Monday morning. The weekly tells us the same story and even though it shows a small topping tail it has remained above the $1150 for the whole week. With only a week and a half to go before April's arrival the bullish candle on the monthly says bring it on. I will keep a close eye on the VIX before changing my bias to a bearish position for now. As always trade what you see, trade in the now and trade to trade well.
Just got paid today!
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