We're currently dancing on top of yesterday's open gap. In the Futures that corresponds to just about $1320. We've hit that level twice this morning and keep bouncing, which is to be expected given the bulls' resiliency for two years now. Should we fill this gap however we should be right back near $1320, and what would negate much of yesterday's bullish price action.
For my part I added a few puts in the SPY this morning and might let them sit a few hours here and then reevaluate.
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