As of this writing, SPX is in a strong down-move once again, down almost 2% or 30 points. In the last 4 of 7 trading days, SPX has moved up or down more than 1, one-day standard deviations which is outside our guidelines for trade entry. Monday's move was 4.4 standard deviations.
Because of the current market conditions over this past week, I am not recommending the April 4 SPX weekly iron butterfly for a live trade entry on Thursday. I feel these conditions warrant "sitting on the sidelines", or better yet, continue to backtest and paper trade the weekly trade.
Cash is a position, and sometimes it's best to sit out a week; "live to trade another day." As I've said before, the weekly trades give 52 opportunities to enter and exit at our target gain during the year.
If conditions improve for a possible weekly trade entry Friday, an update will be posted tomorrow.