JJ Kinahan, chief strategist of TD Ameritrade, tells TheStreet’s Jill Malandrino it is never a prudent thing to try and pick tops and bottoms in any market, but rather look for established ranges and scale in and out of trades. Movement can be your friend. Commodities across the board have been under pressure due to the strength in the U.S. dollar and interest rate hike speculation. Key technical levels to watch in crude is $44 as its supply fundamentals remain weak. Gold has been traded in a range around the key $1,200 level and Kinahan sees more of that in the face of a strong US dollar. In addition to the volatility we saw earlier in the week, Quadruple Witching options expiration is on Friday, and traders can expect to see heavy volume and volatility spikes at the open and close of the market.
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