Grains went down again this morning with all favorable conditions (bearish). Soybean and corn held up fairly well with over 1% down. Wheat had a new low intro-day. News of Ukraine would have a bigger harvest of wheat and corn contributed to the 2% drop. I had one SB and a wheat march strangle filled for options roll over. I am still short many fill from last two months' losses. It's going to be a long way of recovery. It looks like some of my August wheat roll over need to get roll over again.
ES had a wild ride to day. It was up and down after open, then up to yesterday's high, closed at a new daily low. It looks like it was a clean deck for tomorrow's FOMC. I sold two ES puts in S-5 account and 1 in IB acct after closing. We may have a pull back after GDP and FOMC as the previous pattern of sell after a new high. MACD is showing a sign in weekly and daily. Hypotheses two is a weekly bull flag formation break out and we may finish summer rally above 2000 in SPX and ES. NQ is holding up much better after hour with some good earning news.
No comments:
Post a Comment