Opening Bell

The Markets started the day with a heavy selling pressure. S&P 500 shed 10 points, over 1%, in the first 15 minutes of trading. Although all the sectors of S&P is trading in red, the main selling pressure is coming from materials and technology, down 1.85% and 1.69% respectively.

Crude oil is also trading lower at the New York stock exchange. It is last quoted at $68.01 a barrel. Gold and Silver could not escape from the broad selling pressure, down 1% and 2.56% last quoted at $946.25 and $14.83 an ounce respectively.

All the European bourses had a choppy day as well. Britain's FTSE shed 1.24%, Germany's DAX slid 1.54% and France's CAC 40 lost 1.68%.

At this hour S&P 500 found support at 928.76. Dow Jones is also showing support 8646.14.

CBOE V0volatility index (VIX) is once again over 30 range, last changed hands at 31.01.

This is a very interesting month in terms of options trading. Triple witching, which is a term used because of the simultaneous expirations for those of three different securities: Stock index futures, stock market index options and stock options, will be on the watch. Mainly, at the final hour of the trading day, on Friday the 19th between 2-4.30pm, the markets get quite volatile. The direction of the market is never clear. It is quite interesting phenomena to witness.
Generally, markets correct themselves on the following Monday.