Good morning all! Future are up modestly this morning after a bunch of economic stimulus packages are expected to help spur the economy out of this recession. Moreover, there is even more talk about the Fed attempting to narrow the spread between consumer, corporate and treasury interest rates. As per the chart below, I have again added the support and resistance targets for today's intra-day S&P trades. We didn't reach any of the significant levels yesterday so I decided to move up my stops on my index puts into "small profit" range. If we move up substantially today, they will get stopped out in a profit and we will look to play these support and resistance levels again (if and only if they are reached). Happy Trading!
