No important events are expected today.

The background for today is mixed. On the one hand, it is possible to expect the growth of quotations against the positive dynamics of the stock markets. VIX fear index is near the 4-year minimum, which indicates high optimism in the ranks of investors. The quarterly expiration of futures and options on the major U.S. stock indices is due next Friday and apparently investment funds want to push the prices up to close their positions at high levels before the expiration.

I expect the SP500 to advance to the yearly high around 4325. On the other hand, the decline of the U.S. government bond yields may have a negative impact on the value of the dollar. It is difficult to see which of the two factors will have the stronger effect on the trading.

Recommendations: Flat 138.75 -139.85.