Something a little different today...
VIX is now at 15.85.
This year, that has been a level where all forward SPX gains get given up eventually.
Perhaps this time will be different, but looking for a high in the next week or two is fair game.
Tomorrow morning is this months VIX futures expiration.
We have a negative NYMO divergence at the moment.
I am long some SPX.
My short runner position turned into a stumbling walker and was closed yesterday for a small profit and then reversed.
Trade is sized small given the vix situation noted above.
I have scaled out one profit unit. If price cooperates, I will get a second scale and slap a breakeven stop on the position.
This is not a trade I like...