ES came back to retest yesterday's low and closed near low of the day. It could be a double bottom or move lower. Market looks tired. It got knocked on the head every time trying to reach the high. However, the up trend is still intact. Keep in mind the possibility of "sell in May and go away". I had two small bull puts in ES 2-3 weeks out. Commodities give better returns in % terms.
Wheat and corn are up again today. Soybean had a later pop to the high of LVA. Traders are eyeing this Friday's USDA report. I should wait for it too.
Energy is still range bound with up skew. I missed NG bull puts for the last two days. It has a very low options volume.
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