A big week ahead for the markets as Ben Bernanke gets his last say – to taper or not to taper, before he exits. This may certainly be a market mover and trend changer so be on your toes come Wednesday.
Friday is a quadruple options expiration. This usually means things can get tricky with intra-day trading. Overall, markets tend to rally into options expiration (about 70% of the time) but the Fed speak on Wednesday will be a big determiner on how the rest of the week fares.
The gold and silver short trades have continued to progress to the downside. Consider protecting those shorts as we are coming into a seasonally strong period for these metals. We typically see some sell off around options expiration. We’ll see how things have progressed into the end of the week in terms of targets being met by then or not.
Tonight I am also taking a look at the Eurodollar and lean hogs which tend trend during this time of year.
Check out all the analysis in tonight’s MTPredictor Weekly Market Update