Market Briefing For Thursday, March 14, 2024

FOLALAM, for the shorts, is starting to creep into the trading jockeying. All the broader conditions remain the same, it's the 'FOLALAM' ('fear of losing a lot of money') .. that might just impact a few stocks as we go into Quarterly Quadruple Expiration.. now. And fortunately we still have lots of traditional technicians and analysts arguing for the downside. I understand what they're seeing on charts, but surprise, life and markets aren't that basic. It's a 'blend' this year, and that includes 'AI', fundamentals, technicals, and ... politics.

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So let's see if at least a few tech or disruptive speculative stocks gravitate to the nearest 'strike price' expiring Friday where the larger 'open interest' Calls and Puts are, because that's where the 'option writers' prefer to have finishes which mitigate stocks being 'put to them' or 'called from them'. Then we'll be able to gauge whether S&P looks good going into the FOMC meeting or not.

Market X-ray: 

There are 'red flags' here and there as far as stretched S&P and so on, but that's relevant academically more than practically. If you're trading the Index it matters though because a superficial perspective will often fail to give proper attributes to the 'back-filling' we've called essential to holding-up the S&P over recent weeks.


More By This Author:

Market Briefing For Tuesday, March 12, 2024
Market Briefing For Monday, March 11, 2024
Market Briefing For Thursday, March 7

This is an excerpt from Gene Inger's Daily Briefing, which typically includes one or two videos as well as more charts and analyses. You can follow Gene on Twitter  more

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