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SPY sell-off

When I said “Everything can happen” yesterday, so today it happened. I expected a bounce, which haven’t arrived. Instead the market opened with a gap. It was a bit obvious last night when watching futures where we will be heading at open.

So what am I doing? As I said yesterday, I have my stop loss which wasn’t executed, so I am still riding my puts and making money on this downtrend. I will wait where the market closes today and adjust my stop loss accordingly.

The market is heading to the $123 support level and right now it looks like we are almost there and actually a bit higher than that. We didn’t break through the yesterday’s low, so I guess that this low is our new support. Will we bounce off of there?

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