Monthly Opex Is Here...And So Are the Faders

We hit new all-time highs overnight, but markets are fading this morning.

We have had a busy overnight session. Shortly after the 6 pm futures open, the S&P and Nasdaq futures ripped to new all-time highs. The ES came within 1.5 points of our upside target, while the Nasdaq pushed through it.

For days now, I have been talking about the building buy-stops that were accumulating between the 4700 to 4712 area on the ES. The long…