Gettin' Messy

This 240 Minute chart above gives us a real sense of the tight range we've been in for a month.

If we spread it out a little we can see it's trying to give us a sell signal.

But looking up at the 60 Minute above we see a high peak in the FRO. Marked in blue, it is a potential warning that this market may break to the upside when it does break.

Looking again at the cleaned up 240, we see a sell signal that started to slowly play out today in the morning. It didn't go down very far so I suspect we're going to see a move to the upside.

Friday we have options expiration which has never been a big deal to manage in my five years of trading. But all the 'experts' warn against "increased volatility" and this week is quadruple witching day. Meaning a day when contracts for 1) stock index futures, 2) stock index options, 3) stock options, 4) and singles stock futures all expire.

Expiration is the third Friday, of the third month, of each quarter.

But it doesn't matter to us because we trade what's called the continuous S&P e-mini, index, futures contract. We don't have to move out of the expiring contract and into the next. We just worry about one thing...you guessed it... buying and selling pressure. That's all that matters during each day.

WARNING: Trading futures involves risk. You can lose all of your margin money and more. Do not attempt to trade futures unless you consult your government certified, financial adviser to determine if futures trading is suitable for you.

Oh and check with your spouse too.