- So, we continue to trade in a familiar place as once again stocks rallied into Friday's weekly options expiration with new highs on the New York Stock Exchange Advance Decline line (NYAD).
- The three options expirations (M, W, F) for the SPDR S&P 500 ETF (SPY) last week started on a fairly bullish note but on Thursday, the put buyers ganged up on the 410-413 strike prices on news of potentially higher capital gain taxes.
- Bond yields continue to move lower with the US 10-Year note (TNX) and the US 30-Year T-bond (TYX) now testing their respective 50-day moving averages.
For further details see:
Market Breadth Says Ignore The Bad News As Banks Turn Bearish