• Scalped some SPX calls on the 373 break for a nice quick win at the open. 
• Holding all cash heading into tomorrow. 

• Futures gapped up and we held the gap all day. A lot of chop all day and we honored the 373 and 377 levels well. 
• All the gains were mostly in futures so overall a pretty boring regular market session. 
• Oil started to move upward again. Keep an eye on this...

• No major fed data events until PMI on Thursday.
• Wed - JPow testifies to the Senate banking committee at 9:30. Bullard talks at 12:50. 
• Thurs - JPow testifies the House Financial Committee at 10am.
• Fri - Bullard speaks at 7:30am. Daly talks at 4pm.
  
  

• Technicals - We are not oversold on any major charts. We are in no man's land. So it is time to keep an eye on Levels and Fibs. 
• As long as JPow keeps a hawkish tone, the market should stay strong. If he starts to sound dovish, the market will get spooked again that he is not serious about inflation and will sell off. 
• We have a gap to fill up to 380 on SPY. It looks like we may test that level soon.
• After JPow's testimony, I do expect us to start to grind a bit. So I am looking possible swing positions with these options. It will just be too difficult to get to the levels on the chart in one session. I will start to be a little more loose with my plays to allow them to play out over the course of a few days.

• I will be on the sidelines until JPow gets about 50% done with his hearing. So that will take me out for the first half of the day. 
• If we retest 373, I will keep an eye on how it reacts to it. I am still bullish until 380 is met, so I will most likely play calls if 373 holds. 
• If we break under 370, and it is because JPow moved us there, I will be playing puts as we should slowly bleed out. 
• As always all of this is my opinion and not financial advice. 

• $SPY - levels 363 > 365> 368 > 370 > 373 > 375 > 377 > 380