Choppy, sideways trade characterized most of today's trading until the last half hour when the bulls pushed the market to new 52 week highs. RUT closed at $703, up $3, while the SPX closed up almost $8 at $1194. However, trading volume was down across the board; trading on the NYSE was down 8% and trading was down 9% on NASDAQ. Trading on the S&P 500 dropped below yesterday's volume which was below the 50 day moving average. So we have another day of higher highs on lower volume. All the books and experts tell us that's a bearish sign... but it keeps moving up. Another example of why it is wise to trade what you see rather than what you expect.

My April condor stands at a P/L of -$1355 with a delta of -$230 and a theta of +$445. while the May condor stands at +$220, delta = -$74 and theta = +$92.

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