The NDX broke above 5100 and made a new high. This pushed the RSI line above 70, a place it will usually not stay for long.
Meanwhile, the SKEW rose slightly today. It's still marking really high numbers, showing more volatility is likely in the near future.
Volatility fell, but on such widespread bullishness, short term measures still remained above recent lows. At the same time, longer term measures broke to new lows.
I tried to move the NDX call spreads up about 30 points and out until next week for a credit, but I could not get filled. Tomorrow could have some follow thru (at least intraday) in this rally, but the next few days could be flat. So far our spreads are not being tested.
