Futures may have double-bottomed this morning. Getting above 1681.75 would support this idea. Yet the overnight slump may carry on further, of course, should investors get spooked at the open of the regular session. It appears that both sides in Washington are digging in.
The S&P feels as if it's in no-man's land currently. I'd like to see it higher or lower before I commit more. I did add a bit of SSO in the pre-market, and will likely buy some SPY 168 calls using 1678.23 as a stop.
Overall, the market looks sloppy. Near-term resistance is still 1707-1712 and support is 1650-1670. Obviously the market still has lots of options available.
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