The Federal Open Market Committee will make their statement on rates and the economy at 2:15 p.m. Eastern (11:15 a.m. Pacific).
December options expire on Friday, which is a Quadruple Witching day, sort of a speculators' Halloween. Be sure to lay on a supply of candy for any frazzled traders that come trick-or-treating at your door on Friday.
No new signals on the things I look at.
- Blue chips (SPY) opens the day at 111.8, entered bear mode at close on Dec. 14 (at 111.87), barely changed from yesterday
- Fear index (VIX), 21.5 , bear, Dec. 11 (21.59), falling
- Treasury long bonds (TLT), 91.93, bear, Dec. 1 (95.25), at the top of yesterday's trading range.
- Gold (GLD) 110.83, bear, Dec. 4 (113.75), rising
- Oil (USO), 36.08 , bear, Dec. 4 (38.33), rising
- Dollars per euro (EUR/USD) 1.45, bear, Dec. 4 (1.49), rising and within yesterday's trading range
- Yen per dollar (USD/JPY) 89.6, bear, Dec. 9 (87.86), at the top of yesterday's range.
- UNG covered call (-c9), 10.22, bull, Dec. 7 (9.22), at the top of yesterday's range
- AET bull put spread (p31/-p32), 33.54, bull, Dec. 8 (30.47), slight gap up and rising
- HPQ bull put spread (p49/-p50), 50.9, bull, Dec. 9 (49.95), at the top of yesterday's range
- KO iron condor (p50/-p52.5/-c57.5/c60), 58.95, bull, Dec. 1 (58.08), within yesterday's range (and 1.20 above max profit at expiry)
- X bear call spread (-c40/c41), 48.95, bull, Dec. 9 (46.74), at the top of yesterday's range
- VALE bull put spread (p30/-p31), 29.04, bull, Dec. 14 (29.20), within yesterday's range