The Saudi market is down over 5% today. Something may be afoot there, who knows. Bernanke speaks at 10 am EST today. Things could get interesting around that time over QE speculation.
Yesterday the Dow Utilities made new highs. The Dow Industrials and Transports are obviously not confirming. This could be the beginning of a rush toward dividend yields or an indication of the market's belief in higher energy prices pushing through to higher utility stock prices.
S&P futures got to 1336.50 overnight, another move outside of normal market hours that I have been waiting for during the light of day. Regardless, if it gets up there today, I'll add to my SDS position against the expanded premium of my calls.
Tomorrow I leave for Colorado. Very glad to have this hedge dialed in so I'll be able to relax while away from the screen. Also look for my guest post at Minimalist Trader.
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