No major news release today. ES tried to push into Jan's balance area but was rejected. It looks like it's forming a H/S patent in hourly chart. Let's wait to see how the overnight and tomorrow bring out. So far Asia markets are down. ES is also touched Fib 78% RT line, the last defense of the retrace.
My add on to 1820 call missed it by 2 ticks from $9.50 same as yesterday. It was frustrating. I am learning to let it go. I bought a 1830 call to hedge my 1820 in case of a later afternoon or tomorrow's surge.
I entered a SPY 183.0 call based on Vader's hint it's not working out so far. I also got in an RUT credit spread two and a half weeks out in my personal account. This kind of spread has a high risk amount and need to be more cautious. I will take it out if it doesn't work out. Market is still in its up trend but seams need some big news to push it to a new high. This winter is not cooperating.
CL appears peaked for now. Today's CL inventory report showed more in stock than expected. I got into a $91 bull put to hedge my $105, %106 position. I will add 1 more position on put sell side when it comes down to Fib 38 or 50% daily. CL's daily chart appears formed a top but weekly is still pretty strong. The up trend is still in tack. Apparently this is CL's seasonal up ward which I didn't know about. I need to learn more about commodities' seasonality.
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