Market Summary: Quadruple Witching Relatively Void of Volume and Volatility

Friday marked a quadruple witching session in the market, but trading was not accompanied by the typical volume and volatility. Overall, the market was mixed and relatively unchanged. There were no economic data or other significant market moving events in Friday’s session.

A quick scan of industry breadth shows pockets of relative strength were found in precious metals, banks, railroads, software, and internet. Friday’s lagging industries were wireless communications, utilities, telecom, oil & gas, and oil & equipment services.

There were no changes in Friday’s trend analysis table. The short-term trend for the DIA, SPY, QQQQ and IWM all remain down. The QQQQ is the only index that is flashing a primary uptrend, but it is also losing its momentum.

Below is Friday’s market summary, market conditon and trend analysis, and support and resistance tables:

Market Summary

• The DIA closed down -0.36% @ $85.31 and $0.79 below its high and $0.39 above its low on +3.72% lower volume. Daily PMI* is @ 33.05.
• The SPY closed down -0.20% @ 92.04 and $0.66 below its high and $0.52 above its low on +1.86% lower volume . Daily PMI* is @ 44.07.
• The QQQQ closed up +0.95% @ 36.16 and $0.20 below its high and $0.34 above its low on-3.31% lower volume. Daily PMI* is @ 62.96.
• The IWM closed up +0.61% @ 51.31 and $0.61 below its high and $0.20 above its low on +12.80% higher volume. Daily PMI* is @ 24.69.

(*PMI measures and indicates strength of the underylying security’s trading range on a scale of 1-100.)

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Disclosure: Hillbent.com, Inc. or its affiliates may own positions in the equities mentioned in our reports. We do not receive any compensation from any of the companies covered in our reports.

Comments

[Missing_Link:]

What exactly is meant by "quadruple witching season"?

Jun 21 12:51 PM

[sethmcs:]

I noticed the low volume and volatility in my stocks. This market is moving sideways. I guess people found better things to do. Or the large players are afraid to manipulate stocks for fun and profit using large option trades with large buys and sells. Remember big brother is watching you.

Jun 22 01:12 AM