Qs gap

The Qs gapped up at the open in response to INTC earnings (apparently) with the other 800 lb gorilla MSFT pushing along with it. (I told you so yesterday) There was a nice S1 retracement bounce at 11:30 which I would have bought had I been in front of the computer, but Dr. appointments kept me otherwise occupied. Poop! The Qs have been trading laterally for the past 5 days, but looked pretty strong today. The folks over at Bespoke posted an interesting study on the daily performance of the S&P500 during option expiration week. So far their expectation's are playing out. I'll do my own analysis of the Qs for this time frame this weekend along with the weekly Qs update.

The VIX bounced right off the upper band today, landing at the 20DSMA and only a tad from the 10DSMA. The market showed considerably upward momentum the last 1/2 hour. . the NYAD was on a 60 degree upslope, the TICK was solidly above the MACD histogram zero line and the $VIX lost almost .50. Unless late/early earnings derail the current trend, we should see continued market strength on Thursday.