With options expiration today, there was not as much volatility as we had expected. We were in range-bound trading.
And traders that were short playing recent weakness and volatility in tech were caught with their pants down.
The market is finally reacting to commodity prices. The weakness on the long end of the curve is contributing to the weakness too. We've been holding strong for this week, but everything is in a negative light today. There's a little more volatility because it's options expiration.