Option Expiration Limits Stock Index Movement

Today’s sample of Futures Analysis from FuturesHound.com

Trading was limited in the September E-mini S&P 500 and September E-mini Dow on Friday as traders took a rest after more than ample gains earlier in the week. The fact that today was an option expiration day contributed to the light, range bound trading. At times it seemed equities were winding themselves up for a volatile afternoon but this never materialized.

While S&P 500 and Dow traders were keeping it tight, the September E-mini NASDAQ continued to soar to the upside Today’s action took this market to a new high this year and the close on the high set it up for further gains next week.

Comments from a banking analyst set off the equity markets earlier this week, but it was better than expected earnings from Goldman Sachs, Intel Corp., JP Morgan, Bank of America and Citigroup which helped accelerate the rally to the upside.

Read full article at FuturesHound.com as well as Futures Analysis, Futures Education and exclusive timely market Gann Analysis

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