Independence vote in Scotland keeping us on the sidelines until Friday for a new trade entry.
Futures are higher as of this writing this morning, adding further fuel for the bulls after the FOMC meeting announcement yesterday. All went according to plan; the Fed kept the "considerable time" language in their statement regarding raising interest rates. However, today is the day that Scotland voters head to the polls to cast their ballot for their independence from the UK. Polls close at 10 pm local time, or 5 pm Eastern.
Analysts have mixed reports on the potential impact to the US market, but I will take my more conservative stance and hold off on opening any new positions today. We will look to enter both the SPX weekly Iron Condor for September 4 cycle, as well as the RUT monthly Iron Butterfly for October tomorrow, as long as conditions are within the guidelines.
For those unfamiliar with the RUT monthly Iron Butterfly strategy, the trade management guidelines were updated on September 4, and can be found here:
Link to Articles
Suggested trade entry will be posted tomorrow.
As always, stay keen on your risk management and trade carefully,