The Witches

It is difficult to predict how futures contracts will behave on their expiration day. That is why I write only about the situation on the market in America and the Warsaw Stock Exchange and do not try to predict Friday’s movements.

The last forecast was accurate. On Thursday futures contracts in America have been on negative territory. This situation influenced strongly The Warsaw Stock Exchange. FW20 closed the session with a loss of 1.53% at 2,377.

After the close of the session in Europe, contracts in America have rebounded significantly and closed the day in the green territory (0.2%) and will probably continue the side way trend. The near future direction of the market will be determined after the expiration date of the current series of contracts. However, DOW Transportation lost on Thursday 2.77%. The Equity Put / Call Ratio Index went up significantly from Wednesday’s close 0.56  to 0.75. There is much evidence for a short-term correction of the futures contracts in the USA toward 1430-40 p.