From yesterday and overnight price actions it looked like ES was ready to explore a new LVA above 1870. FT's morning Trader Bite has the same hypotheses. I thought it was a sure thing once we crossed overnight high. Then it got pushed back before 1870. Sell off intensified in the afternoon after yesterday's low was breached. I made ES put sales for 2nd week of April, Sold put spreads for IWM in both personal and IRA accounts, sold VIX 22 calls as well. As usual I entered most of them too early on such sell off days. So far the sell off is still contained in the current balance area. It looks filling in the LVA. We will see if it will hold in the next couple of days. I need to be ready to adjust, roll or take stops for my spreads and bull puts.
In grain complex, wheat and corn pulled back some today. Soybeans went up another 10 points. I missed an add on for my 680 Calls but didn't chase while patiently waiting for a pull back. Wheat and corn are still within their balance areas. I guess traders are waiting for tomorrow's weekly export report. They may pop again if the numbers come out strong. I need to wait for a clear break out one way or another before take actions.
CL is continuing its up trend despite today's inventory report was higher than expected. I shall void to get in too early. I will watch for key Fib and S/R levels.
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