It was an inside and choppy day. ES/SPX explored up and down several rounds rapidly. It ended with a doji bar. RUT closed near yesterday's low and shown some weakness. Overall it was directionless. B band continued squeeze pattern in daily and 4hrs. Tomorrow's GDP report may cause market to break one way or another. It's more likely to the down side since the trend is down and the oversold condition from the mid of Jan has had relief. We may see an retest of low and pop up as well.
It was a light day for me. I closed couple of positions and added one set of SPY calls. Two ES puts at 50% profit orders got filled tonight on a sudden pop up. Margin switched to puts side now. Not much changed in my risk profile except margin ratio is up to 49%.
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