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Quadruple Witching Hour Almost Over (listen live)

 Listen to “Quadruple Witching Hour Almost Over – Nick Santiago #119” on Spreaker.

 

Check out EVERY trade Nick has sold with his members right here…

Get all of Nick’s Options Swing Trades here    <<>>    Get all of Nick’s stock swing trades here

 

1. Markets are starting the session very weak with a large gap lower open. The tech heavy NASDAQ is under some heavy selling pressure to start the day, but remember this is an options expiration week. This is supposed to be a week filled with a lot of whipsaw in the market. Either way, we have election risk going forward, so everyone needs to be a little cautious right now.

2. Traders will really need to see how the markets finish this week.The chart pattern will be very important when viewing the daily and weekly setups.  Options traders are getting slammed. Quarterly expirations are even more important. Quadruple Witching Hour. If there’s a stock that’s beaten down, be very careful. Amazon down 2.5%. Doesn’t happen all the time but definitely something to watch for. Steer clear of near-term expiration.


3. New claims came in at 860k and continuing claims at 12.6 million, below the prior week’s revised totals.


4. Gold futures down $16 and silver down 1% as well. More backing and filling. A little more backing and filling then it will be time. You can safely get back into the trade. February and March options could be the way to go. Seasonality will likely be positive for December. Inflation will be picking up. The Fed is trying to ratchet up inflation. Needs are going higher and wants have been going down to now.