Short Term SPY (For weekly Puts)

Like I said before, I'd love to be in the position BEFORE 2 p.m. to be flat on the cost basis on the SPY weekly puts, in other words taken the cost off the table and let the profits run, that would be great if that were about half the position, but we'd need some good downside momentum.

I do have some thoughts on HY Corp. Credit as well that may explain what's going on there, it's kind of along the lines of the VIX move late yesterday.

I'm looking at so many charts that my fingers are nearly bleeding from typing, both of them (left thumb and right pointer-"Hunt and Peck Typing").

For now, the SPY may give us some more on the downside near term....

 TICK is having trouble holding that channel.

 The 1 min SPY i-very tight intraday- is going negative here.

The 2 min which never had much of a positive is just barely in line and close to negative.

Right now it's Credit and ES bothering me, I'll get to credit, ES 1 min has a slight positive divergence, but NQ had one too and it is starting to fall apart so maybe ES's 1 min does the same.

Remember what these trades are about, making some money in a difficult environment, not getting greedy. Longer term position in place are there to deal with a substantial break.