Markets are quiet again this morning about 45 min before the close. Short term I still think the odds favor the downside in the markets. I am flat. I will be looking some some short term sell setups today and might consider a position short in spy if the market has a strong move up today.
Yesterday I made a short term weekly option trade for a very small gain. I thought we might get a good move to the downside at the close but then exited when it didn’t develop.
Fed day on Thursday. I doubt we get any strong moves in either direction until then. These markets have not provided much opportunity for my methods the last few months. But things will start jumping very fast when October rolls around and especially when the markets get back over the 200 day Moving Average. When that happens I will be back to daily swing trades.
Usually when swing trades are not working the mean reversion kicks into gear. But the environment now has not produced the swings to generate my mean reversion trading. When the market gets below the 200 day MA my requirements get a lot stricter for my SPY longs.
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