Tuesday, December 13th, 2016

Market Updates

AUG 18, 2009

After a bruising Monday, today open market structure is bullish, $TICK distribution bullish above zero line, $SPX, $NDX, $RUT all in uptrend. Looks like a bounce from yesterday. Bulls are trying to swim back to 1000 level in SPX and won’t let it close 2 days in row below 1000.

Here are few things to look at if you think we have a market trend change.

1. Two consecutive closes below 200 EMA on 5 min chart.  2. Weak dollar  3. Weakness in SMH Semiconductor holders Trust. There are other Technical things to look at as well.

We are a watching our RUT Iron condor and other positions and its look pretty good so far. This is an OPEX week RUT expires on Thursday and Stock options Friday so we are not forcing any new trades. Carefully manage risk and your deltas..

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