Tuesday Chop Fest

We did a lot of nothing today as we chopped back and forth all day. Despite the strength back up in the last afternoon, we settled on the downtrend line that started a few days ago. Tomorrow the FOMC minutes come out at 2:00 EST so it will be interesting to see what direction we decide to head... or if we just chop sideways for a while. I'll be watching the 20MA on the daily chart very closely if we decide to fall again as that was support for last Thursday's pull back. Great day for Iron Condors!