Witching Day

Outlook 03/16: It's quadruple witching day, which refers to the simultaneous expiration of stock-index futures, stock-index options, single-stock futures and stock options, which can lead to higher volatility for markets and more trading volume. The event happens four times a year, on 3rd Friday of March, June, September and December.

/ESM8 Value: YVAH 2761 YPOC 2755 YVAL 2750

/ES Plan: Yesterday market closed in balance. Overnight inventory is slight bullish moving within yesterday's value, so we've these options:

A) If market remains above YVAL 2750 with bullish internals, try to be a buyer leaning on 2750-54 towards YVAH 2761 and LVNs 2768-2775. 'Look above and fail' is a signal of weakness.

B) If market starts to move below YVAL 2750 with bearish internals, become a seller leaning on 2750-51 towards NFP SoC 2741 and LVN 2735. 'Look below and fail' is a signal of strength.

Tips: Market's still under the quadruple expiration effect. Be cautious and reduce your risk/size.

Today's Economic Calendar

10:00 Consumer Sentiment
10:00 Job Openings and Labor Turnover Survey
01:00 PM Baker-Hughes Rig Count

Disclaimer: All information on this outlook is for educational purposes only and is not intended to provide financial advice.

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