since 2008, sending it daily shortly after the market close.
The opinions expressed below are my own
Is it Memorial Day yet? That’s what it seemed like. Today was quiet. I’m going to need a longer list of synonyms for quiet because trading has been uninteresting for a couple weeks and it doesn’t show any signs of changing. Capital flow was 80% today. The S&P had a high-low range of 10 points (37 bips). Since the early 80’s , that’s a 4-percentile day for intraday movement.
Here’s the added wrinkle about today…it was option expirationFriday
. Usually on an expirationFriday
, capital flow is 120-140%. Usually, there’s some movement in the underlying. That obviously didn’t happen today. I don’t remember an expirationFriday
with such light volume. There’s nothing to say and there’s no good/interesting interpretation.It’s quiet. Too quiet. Whaddya gonna do?
Have a great weekend, see youMonday
,-Mike