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Market Commentary: SPX Today

Mar. 09, 2021 7:09 AM ETS&P 500 Index (SPX), SPYIVV, VOO
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  • Expected SPX Closing Range: 3792-3850 [3754-3875].
  • Market Outlook: Neutral.
  • Volatility: Within Range.

The SPX is starting to settle down a bit here. The major bull and bear fight is in equilibrium in this range. It's a good time for short-term neutral strategies deployment. I may well sell that Iron Butterfly today and take advantage of a market that wants to hold-the-line. I will be looking for a bit of a downtick to do so, however. I may as well squeeze some extra volatility out of the position rather than play it while the market is up slightly and feeling a bit too good about itself.

Happy Trading!

Analyst's Disclosure: I/we have no positions in any stocks mentioned, but may initiate a short position in SPX over the next 72 hours.

I am an active trader and may take a position long or short in any securities mentioned at any time.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

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