My plan:
I woke up late today.
US indices futures moved up overnight but got pushed back before open. My Ninja Trader is missing overnight data. But it appears ES and TF retested overnight low and started to push up. I won't give targets since it's 2 hr after open now. My plan is to add bear calls to form some strangles and Iron condors. I won't be too aggressive before tomorrow's FOMC. It may give a boost to the market and slap on my face.
Corn and wheat continue to slide. I will wait a little longer before taking any actions. I shall check and print seasonal charts to update mine.
My execution:
It was a turn around indeed. ES/SPX were up 1.2%, RUT had 0.6%. I filled most of strangle, hedge or iron condor in my accounts. I am top heavy in terms margins. Tomorrow is FOMC day. I don't know which way the market will go but I am prepared to deal with it. I will not add any new positions during the first hour of the announcement.
Corn and wheat bounce off of Fib 78 but it's not a turn around action. I tried to add calls to balance my position but no fills. Let's see what tomorrow will bring.
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