ES had a choppy start this AM with 7 point range. It started to push out yesterday's range after lunch. FED minute release gave it a boost to 20 point range. It closed between Fib 50-61.8 RT form this sell off. I expect there would be an attempt of selling at these levels in next 2 days. I would get out my 1850 - 1820 positions before the week end. It may be choppy for a little and building the right shoulder if the top is really in.
USDA report didn't give grain complex a lot bullish figures. Wheat was down 15 point at one time after the report. I was able to exit my 1705 and 1710 with over 80% profit. Corn and SB are both closed lower than before the report. I had only a SB bull put got filled.
CL continues moving high. I may consider to sell calls when CL reaches $103-104 after tomorrow's inventory report.
No comments:
Post a Comment