Market Commentary: SPX Today
Summary
- SPX Narrow Band Close: 3891-3941.
- SPX Wide Band Close: 3846-3971.
- Crash Risk Reduced; Witching Arrives.
The crash risk announced yesterday is abated a bit today, according to the model. The witching is upon us so anything goes today. Don't get too beaten up by whipsaws. It's okay to put down the mouse and trade a bit less or not at all.
My long VIX spread went profitable yesterday. I closed many longs in the morning which ended up looking smart as the afternoon selloff began. We might see a little reversion today but expirations can change the game quickly.
Happy Trading!
Analyst's Disclosure: I am/we are long VIX.
I am an active trader and may take a long or short position at any time in any instrument. I closed the long Pound, short Yen, and long Canadian dollar yesterday.
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