• SPY traded 363 - 370
• I was out in the opening 2 seconds.  It was clear the market was going to bounce - and it did, all the way to 370 before getting faded yet again.
• I was sure hoping for 373 for puts re-entry, but it never happened.  So, we wait….
• I wasn’t expecting it to see 363 today - that was quite a surprise - and confirmed just how weak it is.  In normal conditions, we’d have bounced hard off those oversold technicals.
• We’re not in normal conditions though.
• Several Fed guys talked today.  Yawn.

• SPY levels:  355, 363, 373, 380, 390
• Chart - Weekly: Bearish - just carrying on with the move down.  It’s going to 350 at some point, at least.
• Chart - Daily: Neutral - oversold, bounce coming.
• Chart - 4h: Bullish - oversold and turned up already - it’s trying to bounce now.

• If you need any confirmation that the DXY is driving the market, pull up today’s DXY chart and look at it next to SPY.  It’s almost perfect inversion.
• The DXY is in crazy land, which can be seen in international headlines - other currencies are getting totally crushed by it.  Someone will intervene at some point to avoid total wreckage.
• We’ve got Fed Presidents all over the calendar for Tuesday - expect some headlines.  Again, it’s going to be 50/50 split on Dot Plot pushing their views, so it’ll be both sides.
• Unless one of these countries does something silly, I think we’re going to see DXY chill out a bit on Tuesday and a rally to at least 373 will be in the cards.
• If I play it, I’ll take my own advice from Sunday - don’t go big and be quick to take profit.  I will not hold calls overnight for foreseeable future, just intraday.
• We’ve got Consumer Confidence @ 10am which I kind of like.  By that time, we’ll have heard from most of the people for the day.  Kashkari at 1pm.

• I’ve got no position right now.  I’ll start building back up my core puts position for October 31 if we get to 373+
• I may play an early October SPX call just to trade the technical bounce, if I see confirmation of it - but it’ll be quick.  
• The real move is building up some puts to hold.
• 4hr chart below - for the quick SPXc trade.  You know what the Weekly Chart looks like by now.