Skip to comments.Dow, S&P 500 hit new highs yet again; S&P set for six-day rally
Posted on 06/20/2014 11:58:51 AM PDT by SeekAndFind
U.S. stocks rose on Friday, pushing the Dow and the S&P 500 to record levels and setting the benchmark index up to score its fourth weekly advance over the past five.
But trading is expected to become volatile as the session progresses. Friday marks a "quadruple witching" day - the expiration of stock options, index options, index futures and single-stock futures - as traders close hedging positions or roll them over at the last minute.
The six-day run of gains for the S&P 500 index was its longest winning streak since mid-April. For the week so far, the S&P 500 has advanced 1.3 percent, while the Dow .DJI has gained 1.1 percent and the Nasdaq has added 1.2 percent.
"I haven't been concerned for weeks, but I'm becoming a bit concerned now with where the market is, especially with many indicators hitting levels that are contrary to the normal reading," said Randy Frederick, managing director of active trading and derivatives for Charles Schwab in Austin, Texas.
(Excerpt) Read more at reuters.com ...
The economic fundamentals should have the market at half it's present value. If that! The Federal Buying spree is the only thing keeping it afloat.
Watch what happens EVERY time the Fed announces easing of their QE program...
Have gold and AT LEAST 1 month of expenses liquid that you can access.
When this crashes, it will be epic...
Fake market based on the federal reserve’s smoking printing presses turning out cheap dollars. That’s why milk costs $5/ gal. and bread is $3 a loaf.