with today being option expiration, the market is just floundering around. typically, i avoid entering new positions or exiting on a stop, although i will take advantage of all the opex position squaring volatility to sell if a profit target is hit. for the most part, i don’t expect a whole lot to happen today so i won’t be posting too much. we’re at the tail-end of earning season and we’ve seen a whopping 85% of companies beat analysis expectations yet the market has gone absolutely nowhere in almost two months (the SPX is started the day where it was on february 29th). those that purely trade using fundamental analysis are scratching their heads thinking that everyone else must be crazy not buying this market with both fists. those who successfully use technical analysis know exactly why this market has gone nowhere since the end of february and are actually asking “what’s holding it up so much”? one thing is for sure, this market “ain’t goin’ nowhere” without the big AAPL. 4 hr QQQ chart below:
