I got up later this morning and missed planning session this morning.
Indices futures gaped down on Sunday night but recovered overnight. ES closed its gap earlier in the session. It slowly moved into last Friday's range and popped to high of the day after cash closing. It's now at the high end of this CLVA again. Looks like people are positioning for FOMC this Wednesday. It will likely to make new highs once it close above 2069. I placed so many orders in SPX, RUT and IWM but no fills. I only closed SPY Feb 213 bear call to take risk off in case we get a craze run to the upside. There is another one in Etrade hasn't been off yet.
Grains were mixed today. Soybean moved up while soy meal sliding. Corn and wheat moved toward lower side. Wheat broke a new low today and close at $520. It looks like has more to go. Base on its seasonality it would turn up by late Jan or early Feb. I am still holding my positions try not to adjust them at the worst time. Corn looks building a base if the recent low can hold. I am OK in my positions for now. I will try to let my March contracts expire unless I have to roll over.
I will focus on managing risk in indices tomorrow. FOMC is this Wednesday. It looks like people are positioning for a pop.
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