The S&P 500 Index spent most of the day in positive territory, but sold off during the last hour of trading to close at $1375, down $6. RUT dropped $5 to close at $789. Trading volume jumped back up from the post-holiday numbers with 2.6 billion shares of the S&P 500 stocks trading (this is right at the 50 dma). Trading increased 36% on the NYSE and increased 30% on NASDAQ. VIX closed unchanged at 16.7%.

The SPX chart is looking a little scary with this afternoon's sell-off. With the past four trading sessions, up until about 3 pm ET this afternoon, SPX was holding support roughly at the 200 dma pretty well. I was encouraged. But the close below the 200 dma and just above support at $1370 is on the edge of a large area of "no man's land", i.e., not many obvious levels of support until you get down to about $1330. Hmmm...

My Dec iron condor on RUT is doing fine with a gain of $1,580 (10%) with delta = +$37 and theta = +$51.

I will be watching the market even more carefully than usual tomorrow.