It appears that the market liked the tone of the Fed minutes as well as falling oil prices. The major indices closed up 3% on the day. Not wanting to look a gift horse in the mouth, I closed out the call side of the SPY spread mentioned below at $0.40 for a near 50% gain. I'll look to sell the put on any sort of downward pressure in the next day or so. The Trin (Arms Index) closed at an unusually low level reflecting a high level of bullishness. The VWAPs (volume weighted average price) also closed in extremely bullish territory. From these two indicators, I'm expecting a pull-back in the next day or so, if not as early as tomorrow on the open.
That's all for today.
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