A pause in rally
Expiry weekend choppiness
I was not trading today hence it will be a short update. I was bullish at the start of the day and market did make a new bull market high at 1551.75 in overnight markets. After opening neutral, markets attempted to rally but met resistance near highs and dropped without any pause until 1543. I had overnight position for which I had set stop at overnight session low. That was closed finally at 1546.50 and now I do not have any open position. After hitting the lows of 1541.75, markets were two sided and balanced and closed near VWAP. This is the first time in many days markets have closed red and there is likely to be a follow-up tomorrow and possible test of 1539-36 support zone before it can be determined what directions market are taking for the expiry.
I flattened my stock portfolio. Added F/DFS long and BIDU/RHT/AKAM short and balancing hedge on SPY.
