The RUT registered its 7th day up, while the USD jumped 1% against a mixed basket of currencies. The NDX continues to remain under pressure. The SPX is flat for a third-day. Financials are leading the market higher based on interest rate increases being priced in.
The SKEW remains low, providing support for the bulls. Volatility rose in the later dated months, but VXST fell.
The NDX put spread we have on at 4720/4710 is under a water, so we may need to move that out again tomorrow. Meanwhile, I traded another SPX put spread expiring Nov21 at 2100/2090 for 65 cents. Our put spread expiring on Nov16 is already only worth 16 cents, so I needed to replace it.
This market is very bifurcated still, and when things start to even out, the market should be able to move higher.
