Another swinger session in the overnight futures. Currently at 1312, it's in the middle of that range now. Could go either way.
1312.50 on the cash S&P gave support to yesterday's afternoon swoon. "Bennie And The Jets" got renamed "Bennie And The Crop Dusters" The rally has not been broken yet, though. I continue to see a possible target of 1334.93.
I see support in the 1307-1310 area. Below that, 1298. Failure to hold there could could give us 1282s.
These wide "swingers" in the overnight sessions suggest to me that the market is plagued with uncertainty. The good news is that the VIX has come in quite a bit and has taken some premium out of puts and calls. So whenever the market gets higher or lower than was previously thought possible, I'll be betting against it with the limited risk of options.
I love options. They're so "money."
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