Follow Through of FOMC

My plan:

Indices futures held closing lows in a tight range overnight. A formation of bear flags. ES appears coming back to check the break out area of Jan 18. Despite of the big sell off ES is still in its balance area unless it breaks 1975, then 1955. I will not add positions to IB main account due to margin decrease caused by QCOM earning report. Will look for opportunities in Etrade and personal accts for credit spreads and indices ETFs.

Corn and wheat continued to move down overnight. Soybean seams holding better. USDA's export report showed strong numbers in corn and soy meal but didn't provide much support to the prices. Corn and wheat both hit Fib 23 target now and in oversold territory on daily charts.

My execution:

ES retest 1982.5, the low of Jan 16 break out point and bounced up to 2019. However it didn't take out yesterday's high. It's still in a lower low and lower high daily channel. The further downward test is still possible unless it close above Wednesday's high of 2040. As planned I didn't not trade the IB main account. I tried to close a couple of positions but didn't get fill. I sold 1/2 sets of RUT Mar wk2 1270/80 bear calls for $80-85 to form Iran Condors. By the way I did sell a March wk 3 1290 bear call to make a strangle in IB main account.

In grain complex wheat and soybean bounced while corn slide further. Wheat held at $5 mark for now. I am not sure if it's over yet. I sold a May 460 bull put for $625 to add back a deficit position left awhile back. Also made a risk reversal combo for May 510 BTC, sold May 500 put and 590 call to b/e.