ES opened to test overnight low with 3 ticks breach and bounced back. It has been grinding up and broke overnight high and PP. This may be consider Fib 50 RT bounce I guess. It's still a inside day so far. I think it's taking a break from yesterday's big thrust. It also need to attract more buyers to build enough inventory before testing Fib 62 unless it break into yesterday's gap zone and close it. ES is trading between 100 and 50 SMA. It will be more clear on where today close at. It could be a waiting mode closing since people are waiting to see if the US decides to bomb Syria.
I designed a spread to take my yesterday's SPY call out when it reaches 50 SMA and buy a put at that level as well. None of them get filled.
I am still waiting for a new low test to enter my sell puts for next week. The Syria situation is like a 2nd shoe waiting to drop.
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