Indices futures moved up overnight. ES is back into the last CHVN. It looks like a pull back before another thrust down unless it can get back and hold the last balance area of 2075-2088. I will try to sell some bear call credit spreads in 2-3 weeks and long some naked using Karen's style.
Grains are unchanged from their break down. I will continue to lock in profit and reduce risk.
Equity went down on this first day of 2015. ES hit its Fib 38% rt on daily and had a small bounce. The push up was rejected. It closed at 2048, below previous balance area. It appears the pull back is not over yet. It may have to fill the the CLVA of 2048 to 1998. RUT also had reaction at its Fib 38% RT and closed on top of its HVA. I didn't have any fills despite many orders in place. I will wait for the next leg down if it happens.
Grans continued sliding. Wheat and soybean both down around 1.5% and closed at the low of the day. Corn popped back to the low of last trading day at closing. I had positions closed cross the board. I get to worry about my bull puts next week.
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