$SPX Afternoon Update

I believe we will remain in a somewhat choppy environment.

Updating the thought from yesterday, I believe we are still within “blue b.” And in fact, still within “orange b” of that blue b. If we get a retracement for “red b” of “orange b,” it may go to the prices I have noted here:


There are many ways this may be counted, including that red b is already in, and we way go up again for red c. But this is my preference for the time being.

I have trimmed some calls from my strangle today, and caught a little more than half of the overnight rally with futures, and that’s about it.

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