- 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.
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.
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