The Gap Above Filled 7-17-2020

SPX filled the breakdown gap of June 6 and closed right at the high of that week. The next target may be the gap down made on Feb 24, the beginning of the big selloff. RUT is making catch up. It finally closed above the 200 SMA after it lost it back in June. NASDAQ retraced from ATHs this week. It's a noticeable divergence. Tech was weak this week. Overall, the market sentiment seems to stay on the positive side. However, seasonality indicates a turn in the late part of July. Something to keep in mind. 

My portfolio didn't improve much. The net liq is at 108K after it went below 100K on Wednesday's gap up. The leverage is still above 4. I really need to reduce at least one position on the bear side. Luckily, I quickly reversed 2 short term bear calls early this week. 

I have a positive return for my accounts this week. The premium collection is over $2000 after taking a $3900 stop loss in 0 DTE trading. I didn't execute my stop loss plan quick and firm on that quick reversal on Monday. I could have done a rollover as well. It will take about 40 winning trades to recover that mistake. I did OK trading the 0 DTE system on Wednesday and Friday. I will have stop trading this system when VIX is above 30.