Short Term Trading Weekend Lounge: 15 - 17 May, page-3

Happy weekend traders,

So much for the SPX 2935 area this week.  Guess it was too much to ask after LA county prolongs social isolation mode and the Fed Chair and several big participants poured cold water on things with their comments.  Add to that partisan bickering on the hill over further stimulus programs and tension with China.   While XJO and XAO managed to stay above the 20 day averages…everything here but the NDX is underneath theirs.  Right now ES futures are moving around within Thursday's late day spike of single prints between 2837 and the cash equity high of 2853.75.  It will be interesting to see how the regular session reacts to that late day excess at tomorrow's open.  Since it's a Friday and monthly options expiration, traders will on their toes tomorrow.