Most of the indices broke out of the consolidation range, so a new uptrend is in place. The volume also supported the move upward. There was higher volume. A new trendline has been drawn although the trendline may need to be drawn steeper.
The same thing holds true for the S&P. A new trendline for the S&P have been drawn as well.
The Nasdaq is still in its channel and moving up.
The Russell 2000 is the only one that is did not move above its high. It is getting close. I have a July vertical call spread on at 870/880, I need to decide what to do with it, being only out 7 days from expiration. I set a sell order at 860 to buy the call spread at market. I am hoping that the market will drop off some tomorrow.
The same thing holds true for the S&P. A new trendline for the S&P have been drawn as well.
The Nasdaq is still in its channel and moving up.
The Russell 2000 is the only one that is did not move above its high. It is getting close. I have a July vertical call spread on at 870/880, I need to decide what to do with it, being only out 7 days from expiration. I set a sell order at 860 to buy the call spread at market. I am hoping that the market will drop off some tomorrow.
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