1.Today is the Wednesday before options expiration which is this Friday. Often, the Wednesday before the monthly expiration we will see a lot of intra-day whipsaw. This is a day where rallies will be sold off and sharp declines will see big bounces. In other words, expect a lot of whipsaw and game playing by the institutional crowd.

2. Its a mixed day, bit the Regional Bank ETF (KRE) is trading higher by 3.8%. This movehigher has certainly helped the markets start out strong, but I'm already seeing a fade now, so don't take anything for granted on Whipsaw Wednesday.

3. A lot of major retailers have been reporting earnings this week. Home Depot (HD) sold off yesterday. Target (TGT) reported yesterday and is trading higher today. Tomorrow, Walmart (WMT) will report so that stock could sway the markets a little tomorrow morning.

4. Gold futures are under a bit of pressure today falling by 0.56%. Gold futures are testingthe 50-day moving average, but I think a pullback into the $1950 area is now likley. Gold usually retreats during a monthly options expiration period.

5. Bitcoin futures are trading down by about 1.26%. This is starting look a bit weaker on the daily chart, but the weekly chart is still hanging in there. So there could still be another minor pop in the popular crypto currency.