IMPORTANT UPDATE

Well, I've told you a lot of times I'm not an options trader. We do have quadruple witching this Friday which includes options contracts. However, while this month there will be weekly Friday options expiration in the VIX introduced, the contract I mentioned last night expires either Tuesday or Wednesday, I'm trying to get clarification as Yahoo's options Chain has the expiration as of the end of trading Tomorrow, but the CBOE site says this:

"One day each month, on the Wednesday that is thirty days prior to the third Friday of the following calendar month, the SPX options expiring in exactly 30 days account for all of the weight in the VIX calculation. VIX options settle on these Wednesdays in order to facilitate the special opening procedures that establish opening prices for those SPX options used to calculate the exercise settlement value for VIX options."

Being they are talking about the settlement date, I'm assuming the Yahoo site is correct, meaning the last day to trade them is tomorrow. Friday we still have options expiration including: Stock Index Futures, Stock Index Options, Stock Options and single Stock Futures.

So today and tomorrow are the days we need to watch closely for our reversal-not Thursday or Friday.

In any case, that makes me more comfortable with the price action today as it is nearing or at the level in which it could trigger a head fake for bulls.