It’s A Special Day (Maybe)
Not financial advice dyor.
It’s Quadruple Witching Day today.
Take a look at this article, you do not need to understand it (click here). This is a very good description of what is going to occur today, all day.
More simply and vaguely put, click here.
Bottom line, today is a VERY technical day, you can glean almost nothing from any financial market moves, in the absence of a huge news headline, which is possible, especially in today’s world.
Reason: market professionals have this day, specifically, marked on their calendar. By market professionals, I am NOT referring to Joe Stock Jockey. I am talking about actual market makers, hedge funds, investment banking trading desks.
For the rest of us, we ignore, which isn’t great timing, due to the fact that stock markets have moved by well over 1% every single day, and 2-3% moves have occurred.