Message from Jon
These past couple of weeks have been interesting, to say the least.
Last Friday was a big day in the options world that is termed, Triple Witching. As defined by Investopedia, Triple Witching is the simultaneous expiration of stock options, stock index futures, and stock index option contracts all occurring on the same day. It happens four times a year: on the third Friday of March, June, September, and December. Because three option classes expire all on the same day, it can cause increased trading volume and unusual price action in the underlying assets.1
We had a continuation of the volatility going into the weekend that carried into Monday. We are still unsure of the remainder part of the and if the volatility continues or recedes. This will help us better clarify what we are seeing and if there is any actionable intelligence as a result of not.
We are still paying close attention to the presidential campaigns on both sides as well as the growing concerns over the financial shutdown of the government, the lack of stimulus by election, and now the election of the new supreme court justice.
I am so ready for 2020 to be over...
Those of you that joined us on the webinar today, my hope is that we provided some thoughts and clarity around the election, stimulus and interest rates for you. Those that missed us, I hope you can join us on Nov 18th for our next webinar.
Till we speak again, enjoy the start of Fall & Football!
Tech Sector Slip Continues
WEEKLY UPDATE - SEPTEMBER 21, 2020
The Week on Wall StreetStocks slipped as the technology sector remained under pressure and a mid-week announcement by the Federal Reserve failed to inspire investors. The Dow Jones Industrial Average declined 0.03%, while the Standard & Poor's 500 fell 0.64%. The Nasdaq Composite index dropped 0.56% for the week. The MSCI EAFE index, which tracks developed overseas stock markets, rose 0.75%.