As a reminder this is an option expiration week in US equity markets.
Volumes remain thin.
A friend Lee Adler thinks that the sale of the NYSE to the Deutsche Bourse could mark a top in equities. And he might be right. He cites some precedents for this sort of deal capping a big run in stocks.
As I mentioned yesterday I believe that US equities are now in bubble territory and vulnerable to a 5 to 10 percent pullback. However, with Uncle Thug plying its favorite Banks with paper, I would not wish to get out in front of this. Still, it would be typical to see something start around an option expiration.
