Not a whole lot to report. Both MICs are now sitting at around 2.7%. I made some adjustments yesterday when it hit the bottom of the ranges. Sold 1 more put spread for each and closed about 2-3 calls spreads. Got the deltas a bit more reasonable for any potential push up. I’ve updated the sidebar with results.
The market consolidated today and it consolidated above the 2120 resistance that was tested so many times this year. This type of consolidation tells us that most stock holders are holding off for higher prices (not much selling) and sidelined money aren’t chasing just yet (not much buying). So basically, if it holds above this area we should see the sidelined cash and shorts succumb which equals more buyers in a market where there is not much selling (supply/demand) = up we go. All bets are off if we have a sustained move below 2120 though.