Indices held the gains of last Friday but couldn't move up much. The pull back may be over if SPX and RUT can hold an retest of 2039 and 1101 respectively. We could see another leg down if the recent lows are broken.
Had only two trades today. Sold a SPX June 5 2180 call spread and closed a May 3 2160 bear call. Margin is back to the call side again. Vol is still low. I sense a choppy period or a sudden drop possible.
Risk factors are above average. Margin ratio is near 62%. I am in a good spot to add positions if there is a decent move.
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