Today we had a very mixed signal on where the Market wanted to head towards. We saw that the $SPY defended the 187.48 level and .60. However, we kept on seeing lots of selling in this range, and I am still hesitant and still on my Put Options. We traded the range from 187.48 to 188.08 level. We will continue to trade within this range. The Bank Sectors where bullish and made the Market a little stable than it should. $GS $BAC being the biggest winners, we should continue a higher trend with the banks and might see $SPY breaking out of 188.08 level to 188.82. However, I believe we should see the 186.88 before we can continue to all time highs. We are consolidating at this level but to see it protect .48 the Bears wants to see this at 186.88 and see if it can break that before giving up.
SPX : 1873.81 -0.1
DJI : 16360.18 -35.7
COMP : 4357.974 +6.002
VIX : 13.89 -0.21
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