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The charts, graphs and comments in my Trading Blog represent my technical analysis and observations of a variety of world markets...
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DISCLAIMER: All the information contained within my posts are my opinions only and none of it may be construed as financial or trading advice...
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Thursday, April 12, 2012

Buying Spree in the Cards Until April OPEX?

I'm not predicting that this will happen, but here is one possible scenario as to where the YM, ES, NQ & TF end on April's Options Expiration Friday (April 20th). These particular targets fall at Fibonacci confluence levels and near various levels of the uptrending channel (which begins in mid-December 2011). Please note that my straight line is illustrative only and price may zigzag along the way. These targets are 13400 for YM, 1435 for ES, 2820 for NQ, and 870 for TF.

Such an extreme bullish advance may, in fact, tie in with the market's expectations of further monetary easing by the Fed at their upcoming meeting on April 24/25th (barring any catastrophic news events or earnings announcements beforehand).