It’s All About 875

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It was a good day today, in spite of the late-day PPT rally. The /ES banged around 884 for virtually the entire session, but it finally launched higher near the end.

I got out of my OIH puts, some of my GE puts, my SKF longs, and a few other odds and ends earlier in the day. I've still got 160+ positions, almost all of them bearish. The lottery plays are kind of stinking up the joint, but there are only a handful of them.

At this point, it's all about 875, folks. The bulls are going to defend this line like mad. If we crack below it, the low 800s are going to be here in no time.