Equities futures are rolling into their March contracts today which is in part why we saw a distinct increase in realized volatility over the past week or two. Not being a huge fan of rainy winters in the Mediterranean I for one can’t wait for expiration day which also happens to be my spring vacation season. Then again I shouldn’t complain about the weather judging by what some of my trading buddies in Chicago are going through right now. Scraping ice from your windshield is one thing, scraping it off your contact lenses is another.
Most of our ongoing campaigns seem to have survived the weekend and I very much hope so you have you. Now before you read on make sure to catch up on my Sunday update featuring this week’s top and bottom performing stock symbols, historically speaking of course as my crystal ball is still in the shop. Incidentally last week’s picks did very well adding 10.77% to the win side. Alright, let’s review where we are:
It’s relatively quiet morning thus far which gives us time for another exercise in tape reading. This time we are going to take a more in depth look at equities and cover a few tell tale signs that tell us if and when the market has transitioned into another distinct phase. Let’s start with the Zero:
Today marks the last official trading session before the CME equity futures (i.e. ES, NQ, YM) roll into their respective September contracts. Keep in mind that the June contract does not end here but continues to be active for another week or so. However most of the trading volume will now shift into September and if you’re holding any equity futures contracts then you would be well advised to follow the herd into the new pastures.