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Daily Commentary - Posted by on January 26, 2012

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Multi-Month High on FOMC Session

Multi-Month High on FOMC Session

Compliant to historical probabilities and odds, major market indices advanced (again) in response to the FED's decision to leave rates unchanged for the foreseeable future. S&P 500 and the SPY‘s (S&P 500 SPDR) closed at a 5-month high (and

Daily Commentary - Posted by on January 24, 2012

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Long Streaks of Not Losing

Long Streaks of Not Losing

Today marked the 17th consecutive session where the SPY‘s (S&P 500 SPDR) hasn't lost more than -0.52% on a close to close basis (besides the fact that this is the 2nd lower close only during the last 11 sessions). Historically, comparable stre

Daily Commentary - Posted by on January 22, 2012

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Complacency at Multi-Month High

Complacency at Multi-Month High

Besides the fact that even betting on a one-day decline (leave alone calling a top) has been a receipt for disaster during 2012 (so far), complacency has set in (again) among retail investors. On Friday, January 20, the VXO (CBOE S&P 100® Volat

Daily Commentary - Posted by on January 19, 2012

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A Strong Prelude ...

A Strong Prelude …

The S&P 500 is up 4.52% year-to-date on Thursday, January 19, 2012, and provided that major market indices will not fall into a bottomless abyss on tomorrow's option expiration, the S&P 500 will be up +2.0% year-to-date on close of the fina

Daily Commentary - Posted by on January 18, 2012

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Multi-Month High during OpEx Week

Multi-Month High during OpEx Week

Up to now major market indices defy all (seasonal) odds (hitting a fresh multi-month high on Wednesday, January 18), with SPY‘s (S&P 500 SPDR) closing out the week including the Martin Luther King, Jr. Day exchange holiday with a loss in 10 ou

Daily Commentary - Posted by on January 13, 2012

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Martin Luther King, Jr. Day and Week

Martin Luther King, Jr. Day and Week

Next week will be the week including Martin Luther King, Jr. Day, a United States federal holiday and an exchange holiday since 1998 (observed on the third Monday of January). From a seasonal perspective, the week including Martin Luther King, Jr. D

Daily Commentary - Posted by on January 12, 2012

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SPX at Multi Month High before OpEx

SPX at Multi Month High before OpEx

Next week will be option expiration week, and the S&P 500 is currently trading at (or close to) a multi-month high. Therefore I thought it would be interesting to check if option expiration week historically favors the bulls and a continuation o