Friday, September 18, 2009

day support 1210 resistance 1222, mild profit taking


Friday's market has no economic data to chew on, but trading could be volatile and volume could be higher through the quarterly options expiration. On Friday, stock index futures and options, and individual stock futures and options all expire at the same time.

A surprise drop in weekly jobless claims Thursday to 545,000 and a better-than-expected jump in the Philadelphia Fed's index of regional manufacturing conditions continued the week's trend of stronger data.
However, the Dow finished down 7 at 9783, after drifting most of the day. The S&P 500 was at 1065, off 3 points.

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