Was an interesting day on the SPY.  We just went sideways all day.  We did get our stop taken at 174.16. That gave us a 7.60 points on the SPY.  Now for tonight we closed below the PP.  This is a warning that the trend may change.  The entry short will be at 174.95 with the stop at 175.40 tomorrow.  Overnight if the ES pops above the All the Way Half Way Back (AWHWB) and keeps moving higher then tomorrow we will look for an other long.  We will take the long at the PP back test when it hits tomorrow.

Now for your option players:

We entered on or around 1.50 and we took half off at 90%.  We still have the second half in the trade. Move our stop to 3.50.  Be careful with the over night.  If the market drops your stop may get jumped and you will have to get out.  If you are already out then the game plan is the same as above with options.  Wait for a AWHBS with a stop above the 61.8.