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Fleck's Thoughts
IndexClose% Change
Dow Transports14437.22.18
Dow Utilities939.690.73
S&P 5004108.931.43
Nasdaq 10013181.351.68
Russel 20001794.411.47
VIX Index18.83-1
10 Year Gov't Yield3.48-2.1
Spot Gold1969.9-0.53
Spot Silver24.060.68
GDX-Gold Miners32.35-0.52
Crude Oil75.581.63
Dollar Index102.570.42
Euro Spot1.08-0.54
Japanese 10 Year0.368.06
Shanghai SE3272.860.36
Long Bond 20-year131.380.94

Expiration Powers Tape Higher


Today's macro data was ever so slightly weaker than expected, which kept the party from being derailed. Today's option expiration also helped boost the market such that it was about 1% higher across the board through midday. In the afternoon the indices gained a little more ground, finishing about 1.5% higher.

Away from stocks, green paper was higher, as was fixed income, while the metals were mixed, with silver gaining 0.75% and gold losing 0.5%. The miners were lower, as it would seem there is still very little interest.

Three-Day Weekend Puts Investors in a Timeout The next couple of weeks will be interesting in that we will get to see what the new quarterly inflows look like. Plus, we will have the always-worthless-but-speculated-on nonfarm payroll report on Good Friday, which means the market will be closed and people will have to wait three days to decide what they want to do.

One of these days there's going to be an employment report that is weaker than expected, given all the seasonal and birth/death adjustments that have made it appear stronger than it actually is. Then when we get to earnings season we will be able to see what has been discounted, but a lot could happen between now and then so I don't want to get too far ahead of myself.