So much for the mid week break in equities.
Despite the early jump in Vix it is rolling over. 14.22 is first support.
Soybeans challenged it’s 200 mvg avg. 13.75. This is an exit zone.
We saw some early stock rotation out of Nasd names and into the broader market.
The 200 day mvg avg in the Bonds is running the show.
OIL…came down to fill it’s pit gap @ 102.54 (March).
March prices will dictate price action into tomorrow’s close.
The puts in the Oil futures are expensive.
USO…puts look worth a shot.
I’m looking at the 28 FEB 36 Puts which expire the last day of the month.
These are currently trading @ 19 cents. They could be cheaper at the end of the day or even tomorrow.
Tomorrow I’ll take another look and possibly view the 36.50 as a better deal.
Again, I’m looking for a possible high tomorrow, not today.
It’s a wait and see game until the Fed minutes release.
That’s the only turn time today.