Indexes tested lower this morning. ES closed a old gap of 3-15 to the tick. It couldn't push any lower but was not able to move back to yesterday's range either. It closed in a Doji form again. In the bigger picture ES is still filling in this CLVA of 1833-1863. We will wait to see which direction it will break out.
Wheat and corn moved up more than I expected after USDA's bullish export report. I added one contract of $39.5 to 680 call on pull back but it went to $45. I expect some pull back tomorrow when people positioning for Monday's planting intention report. I plan to use today's average up to reduce my call positions before the report.
CL finally crossed the $100 mark and closed above $101. I expect it to go up further and will wait to sell calls at higher prices.
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