With so much uncertainty surrounding the drama in Greece and the upcoming FOMC meeting, we are delaying entry of the new July position.
Today is the "usual" planned entry for the monthly RUT Iron Butterfly for the July cycle. However, there are times in every trade plan where it may be prudent to alter the schedule. Investors continue to be cautious ahead of the mid-week FOMC meeting, and the looming debt deadline in Greece later this week is adding another element of fear.
Rather than risk hard earned capital ahead of these major news releases, we will delay entering the new position until later this week, and work with a shorter time frame for the July cycle.
I will post an update towards the end of the week.
As always, trade carefully and stay keen on your risk management.