My plan:
Indices futures recovered from overnight prior to open. ES is trading in 2105-2095 of CHVA. Bonds are falling. My hypotheses 1 is that market will explore in both directions to clear deck for tomorrow. Hypo two is to drop further. There is a gap between 2083-2076 for ES. RUT is weaker but still in range. I will not sell in either side. I may just fill couple puts positions that left yesterday.
Not much changes have happened in grain. Wheat and corn are still bearish. I am still in waiting mode.
My execution:
There was a news driven sell off this morning. The news was about Iran held a cargo ship initially thought it was a US ship. I didn't know the push down was news related at beginning. I tried to sell some June puts but didn't get fill. Buyers were very swift after the ship was confirmed not a US ship. All eyes are on Fed tomorrow. I will not trade indices before and 1 hour after the Fed announcement.
Grains made attempts to recover. Wheat closed within yesterday's range but still in the CLVA. Corn is about the same. Soybean broke out to the upside but got pushed back to top of yesterday/ I may adjust and add counter trend positions with corn and wheat tomorrow.
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