Disclaimer: For education/entertainment purpose only. Invest at your own Risk
The Dow Jones Index bounced up today and closed at 11015 which is 198 points higher than the previous close of 10816
As long as the Dow is contained in the bearish channel, it is in bearish mode.
Just wanted to give you a reminder that Friday is "TRIPLE WITCHING". If you invest in stocks, bonds, options or markets like e-mini futures, they can be seriously effected by Triple Witching. (especially in the last few hours of the day)
It is very wise to not trade on these days because of the extreme potential for rapid reversals in price and trend. If you do want to trade, I highly urge you to proceed with much more caution and trade smaller positions than you usually do.
Below is a definition of "Triple Witching".
An event that occurs when the contracts for stock index futures, stock index options and stock options all expire on the same day. Triple witching days happen four times a year: the third Friday of March, June, September and December. This phenomenon is sometimes referred to as "Freaky Friday".
The final trading hour for that Friday is the hour known as triple witching. The markets are quite volatile in this final hour, as traders are quickly offsetting their option/futures orders before the closing bell. If you are a long-term investor, then triple witching has a minimal impact on you.
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