Lackluster bull...

The market opened strong today, but all of the gains came in the first half hour. After that the major averages worked their way lower for the rest of the session. The NDX finished with a gain of .52% while the SPX rallied .22%. The indexes closed on their lows. 

The SKEW is still marking mid-range and the P/C ratios still dwindle in the bottom of the range. Until these numbers pick up, a sell-off is unlikely. 

Volatility did move up today. This is yet to be meaningful, but potentially a bottom in the volatility has been achieved. 



The last few days of December - except for Dec 30 - and the first two days of trading in January are generally the most consistently bullish of the year.

I added a small put spread expiring tomorrow on the SPX at 2260/2255 for 40 cents.

I also added a small put spread for Friday at 2245/2235 for 70 cents. These will help offset the cost of moving the 2260/2270 call spread that I have expiring Friday. I tried to move that up and out to January at 2315, while widening the strikes to 15-wide for a large credit. So far that has not been filled.