Triple Witching Fuels the Rally

June 18, 2024
Author: Peter Stolcers, Founder of OneOption

Institutions unwound and rolled positions ahead of Friday and trading programs "goosed" the market to a new all-time high.

PRE-OPEN MARKET COMMENTS TUESDAY - The market has been floating higher on relatively light volume so we need to be careful at these levels. Watch for a rally to a new all-time high that reverses. The candle could be a bearish hammer, but a bearish engulfing candle is more likely. Gaps up to a new high will be vulnerable to profit taking.

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