Options Expiration Week

This week should have games, Friday close marks yet another options expiration. I could EASILY see the market skyrocket into Friday. If it does, and you held since SPX 666, consider taking some off the table. Options expiration often is where games in the market unfold.

Below are the levels watching, S & P 500 (SPX) is trading above the bull trend line, and below the recent highs, a break above SPX 1080 should bring the final, terminal blowoff. But who knows? Perhaps the market trends down from here.

The US dollar is showing MILD strengthening, with a bottom on Thursday.

Some news:
Latvia avoids financial collapse, with 11 billion given to Latvia by IMF, EU, and Sweden. - My Spin - ..that may delay collapse until 2010.

U.S. banks are reducing their lending at the fastest rate on record, tightening the credit squeeze and threatening to leave many otherwise viable businesses unable to borrow money to expand their businesses, meet their payroll or refinance their maturing debts.
My Spin - Is this a sign of a recovering economy......Bank credit contracting fastest on record?

From WebSurfinMurf's Financial Blog

From WebSurfinMurf's Financial Blog