As expected ES/SPX dropped overnight and gaped down at open. It went down to filled the 1895 gap left from last week. To my surprise bulls stepped in from there and pushed it up not only closed the gap above but to the mid of yesterday. It was a strong reversal day for all indices. However this price pattern is similar to the one in early Feb resulting in a further downward move. ES/SPX currently are still in a lower lows and lower highs daily pattern unless we close above the double top below 1950, the 50 SMA. RUT is showing a clear pattern of IHS on daily. It needs to close 1040 to make the pattern work.
There are 10 trades across my accounts. Closed some positions in IB. Sold calls and call spreads in different accounts. I didn't catch any puts as I was expecting further down side movements. I will still have chance to sell April positions.
Risk factors are improved. Margin rate is at 55% which allows me to add positions on both side.
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