This is the most spectacular rally I've ever traded. We cruised above last week's $46 expected move. Actual Move? $74 So we broke outside the expected move, and yet this coming week's expected move is only $41? What's the deal? Well it's only a 4 day trading week. So the options market did increase their volatility. $41/4 days = $10.25 vs. $46/5 = $9.20
Despite Monday being closed for the U.S., keep a very close eye on China Sunday night as they're releasing GDP numbers.. Update: They were the worst in the last 28 years.