1. Friday Effect.

 It's Friday again, rarely do we see a major selloff on a Friday. In fact, most Fridays are positive and often sharply higher. We shall see if the markets are able to capture another solid rally into the weekend.

2. Weak market action. How long will it last? The Russell is the good performer today.

 So far this trading week has been very feeble and even fragile at times. Homebuilders, financial stocks and even many industrial names have been under pressure. Caterpillar (CAT) is a leading industrial stock that has been under sharp selling this week. This stock is now trading down to its 100-day moving average. 

3. Quadruple Witching Options Expiration, beware. Happens the end of every quarter. Lots of institutional gameplaying. They pounce on the small options investors. They never miss an opportunity.

 Next Friday will be options expiration for the month of June. This is also the end of quarter which is called quadruple witching options expiration. That is when four different asset classes are set to expire.  Expect a lot of game playing by the institutional crowd next week. This is going to be the real shark week.  

4. Gold/Silver gold is getting hit a little. GLD and GDX is down. Silver is up 1 percent on futures. Silver is pounding on the $28 price. The longer consolidations last, the higher it will. A consistent money maker for Nick. It’s as good today as it ever was.

5. Kleptos Bitcoin is trading around the 37k level. Keep an eye on the pattern. Selling can happen at any time 24/7. Nothing great in the chart but it’s still holding on, but the trend is down strong. No strength on the chart. It’s an opposite. Don’t worry Cryptos always go up.