Quad Witch Close

The September Quad Witch has been a downer today.

The S&P opened one handle higher, making the high on the open and sold off all day.

Call it: overbought, over extended or over due for a SELL OFF

HIGH: 1718.80

LOW: 1701.80

LAST: 1702.80 down, 14.6 handles

VOLUME SPZ/2,000 ESZ/1.6 Million

MOC 280 million to sell

Monday:

Chicago Fed National Activity Index

PMI Manufacturing Index

Dennis Lockheart speaks

As always, use stops and keep an eye on the 10-handle rule. Don't forget to catch MrTopStep on The Closing Print video found under the OptionsTV page (top bar). We report directly from the SPX pits, wrapping up the day and positioning for trade tomorrow.

OptionsProfits can be followed on Twitter at twitter.com/OptionsProfits

MrTopStep can be followed on Twitter at twitter.com/MrTopStep

For LIVE futures chat, more information on the 10-handle rule and futures educational content CLICK HERE FOR A SEVEN-DAY FREE TRIAL.