Ready for the Summit

Yesterday we rejected the downtrend line, and sold off.  It found support and overnight began another attempt at the line.  The market likes to move through its value area, especially if it moves back into that range from either end.  The top of the range is in the 2046 area, and the odds are 80%.  Knowing that China, and the U.S. are providing credit, and dollars, I'll take those odds.

I bought calls yesterday for next Friday, and will likely go long Biotech, and short volatility, as well.  A break below yesterday's low will have me re think my plan.

Good trading all.