The 10-week trend has reversed, and we should be cautious until a bottom appears. Markets rarely bottom on Fridays. Those already short tend to cover rather than face a big gap higher on Mondays. The weekend news cycle covers 48-hours of world events and there is always the chance for a market moving headline.
After a big decline today, the futures are relatively flat at -1.50. Calm before the storm or pause before a rebound? We will find out by 4:PM on Friday.
New positions are only added on Wednesday and Saturday except in special circumstances.
NEW DIRECTIONAL CALL PLAYS
No New Bullish Plays
NEW DIRECTIONAL PUT PLAYS
No New Bearish Plays