March 19, 2015 Market Recap

The S&P 500 closed down today, after a monster rally yesterday, following the FOMC announcement. However, the Nasdaq and Russell 2000 finished positive on the day. All in all, the S&P 500 is up over 35 points since Monday’s open.

Apple INC (AAPL), made it’s debut on the Dow Jones Industrials, closing down, at $127.45 per share.

The VIX got whamboozled yesterday, and is now trading at 14.07.

Crude Oil sold off, closing below $44. Again, traders have been trying to pick a bottom in energy for several months now. However, energy continues to stay weak.

One sector that has been on fire lately is the Biotechs. The (IBB), closed near 52-wk highs, at $365.25 per share. In addition, (XBI), was 2.75% higher, closing at $237.98.

Some strong moves in the sector included MRK +1% , CELG +3%, and LLY +1%.

Nike INC (NKE), reported earnings after the close. The stock is trading nearly 5% higher. The at-the-money straddle was implying around a 4% move. CTRIP (CTRP), also reported, they’re up nearly 9% in the after hours; the at-the-money straddle was implying around a 9% move.

Tomorrow is quad witching; with that said, we could see some more volatility than usual, given there isn’t much on the economic schedule.