Quad Witching

Outlook 09/17: U.S. stock futures point to neutral open ahead "quadruple witching" Friday, the simultaneous expiration of stock options, index options, stock futures and index futures. The Fed holds its policy meeting next week, leaving investors already on edge this month to read the tea leaves on tapering. Fed Chairman J.Powell has called for a review of the central bank's ethics rules for appropriate financial activities after disclosures that several Fed officials held investments and others made multimillion-dollar stock trades in 2020.

/ESZ21: YVAH 4476 YPOC 4468 YVAL 4449 GAP 4462.50

/ES Plan: Yesterday market closed bimodal, and overnight continues on that way, moving within yesterday's value, so these're the opening and initial balance options for today:

A) If market moves above HVE 4463 with bullish internals, buy towards ONH 4472.50 and HVEs 4483-4489.

B) If market moves below HVE 4463 with bearish internals, sell towards ONL 4448.25 and HVEs 4446-4433.

Note: Today is Quadruple Witching, which refers to the day that options and futures on both indexes and stocks expire simultaneously, and generally produces heavy volumes that can boost liquidity. Remember that new record high has been printed overnight, so it's still pending to be revisited at regular trading hours.

Market Movers

10:00 Consumer Sentiment

1:00 PM Baker-Hughes Rig Count

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