I do not believe we have determined market direction for the rest of the week. While I expect the market to resume its upward movement in the days ahead, the severity of the declines has been misleading. We could be setting up for a move in either direction.
Wednesday is month end. It is also the MSCI rebalancing and the OPEC production decision. I am recommending we wait until Wednesday night to consider new positions.
NEW DIRECTIONAL CALL PLAYS
No New Bullish Plays
NEW DIRECTIONAL PUT PLAYS
No New Bearish Plays