My plan:
ES pulled back after attempting higher overnight. ES did make a new high on a adjusted contract price. SPX didn't make it. RUT continued to struggle toward lower side of its CLVA. My targets for ES: Above: 2121-22.5, 2124-26; below: 2117-15, 2105-03, gap zone. For RUT: 1266-68 above, 1258-53 gap zone. I plan to sell puts on today's weakness.
Corn and wheat are still showing weakness. I will not sell put for now. I would like to see a sign of stabilizing. I may try to sell calls on rally to balance my positions.
My execution:
ES tested VPOC of 2121 and failed. It was a down day to the end of current balance area. We may see the gap on the way up at 2097 get filled soon. I sold some SPX puts and spread for late August and early Sept. RUT didn't sell off as strong as SPX. It did my 2nd target below and filled the gap at 1252. I didn't have any new positions for it today. Apple's reported well but its share sold off after hr. We may see further down pressure in next couple days. The current pull back could be trade preparing for next week's FOMC.
Corn and wheat continued to slide down. I closed one corn call and couple wheat positions. I would wait to see if the sell off could stabilize before adding puts.
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