Bulls have knocked SPX out of the range for a new weekly trade entry today.

The guidelines for the SPX weekly Iron Condor call for NOT entering a new position if SPX has moved up or down over a one-day standard deviation. According to the calculation on my broker's platform, a one-day standard deviation is currently approximately 18 points. As of this writing, SPX is up over 28 points, so it is not recommended to enter a new position today.

Depending on market conditions and available credit, it may be possible to enter a new weekly position tomorrow.

For those unfamiliar with this strategy, the trade management guidelines were updated on August 7, and can be found here: Link to Articles

As always, stay keen on your risk management and trade carefully,

Dot Hazlin