Entering new positions at the open on Thursday would be tempting fate. The markets are establishing a bearish pattern and appear to be on the edge of a breakdown and the S&P futures are down -14 tonight. They could reverse as they sometimes do but market sentiment is fading fast. If we do make some lower lows on the S&P and Russell it would be lights out for this rally. It already has the interest rate flu and it would not take much to add a dose of earnings pneumonia and really create a death spiral. Be patient, we will eventually get a buying opportunity.
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