S&P 500 Hammered as Choppy Week Is on Tap
The Fed is on tap for Wednesday, followed by quad-witch expiration on Friday.
Our View
First off, I was dead wrong yesterday. I thought there would be some upside follow through and there was...but on Globex. After the push up to the 4723.25 high and the pre-open 25-point drop, the ES basically went straight down.
I didn’t take into account that the late-Friday and Sunday night rip used up all the buying power.
After the shorts wer…