Veterans day was yesterday, but it appears that many traders took today off to observe Veterans day. Trading volume in the S&P 500 dropped to 1.9 billion shares while volume on the NYSE dropped 60% and trading volume on NASDAQ decreased 23%. SPX closed unchanged at $1380 and RUT lost $1 to close at $794. VIX dropped almost two points to 16.7%. Today marks the third day SPX has traded right at the 200 dma and today's doji candlestick confirms the indecision in the market. We are at a tipping point.

No significant economic news came out today; all traders are watching Washington for evidence of a deal to avoid the fiscal cliff. The dangerous part of this situation for traders is that big market moves in either direction are possible on the slightest news and one can be easily whipsawed in this environment.

My Dec condor sits at +$1,420 or +9% with position delta = +$24 and position theta = +$64.

So we wait and see if tomorrow brings some news.