News of negative interest rates in Japan has launched the futures on the major indexes higher. However, US GDP data is due tomorrow which could put a damper on the move after the open.
Volatility indexes and Put/Call ratios still are problematic and the SKEW remains high. We wait for confirmation before getting more bullish. Today's TRIN closed at 1.78 which is quite high considering we had a decent move up on the day. This bodes well for bullishness tomorrow.
The 1815/1805 put spread is worth about 5 cents now, so it should close out tomorrow at max gain. I will look to open another short put spread for next week on intraday weakness tomorrow.
