SPX Trade Plan for March 2 Weekly Cycle and Year-to-date Results.
The 6 month chart for SPX is shown below. Yesterday's close of 1873.81 was just .10 shy of the previous day, the all-time closing high. From the looks of the pre-market action this morning, today could be another record close.
SPX six month chart:
The plan is to enter a Credit Spread for the March 2 weekly cycle tomorrow. The monthly Non Farms Payroll report is being released at 8:30 est., so I will wait at least the first hour before entering. The 20 day EMA is currently at 1841.50, so the next trade entry will likely be a put credit spread once again.
With the first couple of months of 2014 behind us, I also wanted to share the results for the weekly credit spreads. The summary is shown below:
2014 Credit Spread Results:
The year-to-date return is currently averaging 2.2% per week on actual margin/risk.
I will post trade entry details when the new position is opened tomorrow. As always, if there is a one standard deviation move, the position will not be entered until the market settles back to within the guidelines.
As always, stay keen on your risk management and trade carefully,