My plan:
The Feb job creation came at 295K vs 240 K expected. The blow out number made a sell off reaction. ES lost about 15 points from overnight high before open. ES has a low target of 2086 and 82 for today. We may see a real sell off if 2082 doesn't hold. It could be range bounded again today. I will use the short term opportunity to sell puts and put spreads in ES/SPX and RUT.
Grains pressured by US dollar again. I need to watch corn now in addition of wheat. I have only bull puts left in corn now.
My execution:
Boy, they really pushed the market down. My lower target was broken by lunch time. ES/SPX lost 1.4% and closed into the prior balance area. I made a total of 10 trades across 4 different accounts with my first bull put credit spread in Fidelity IRA account. It appears I am over traded and a little too aggressive, especially in the morning. My plan was a range day. Overall, the daily and weekly uptrend is still in place although it appears there are rooms for the down side.
USD pushed higher and put more pressure on commodities. Grains made new lows but recovered some at closing. I only had one wheat May 680 bear call closed for profit.
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