The market broke above 200-day MA, hurray! But now that level needs to hold. We may see a consolidation at the current levels, investors taking profits, or whatever else may happen here. We may also see a complete failure as more bears will be stepping in. I will also start adding cheap butterflies to my portfolio, like the one we opened today. It costs $90 to open, but if the market goes down, we may get up to $5,000 in profits (if it plays well). And if the market doesn’t tank, we only lose $90.
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