SPX declined another $5 to close at $2114, but RUT reversed its recent declines and traded higher by $4 to $1258. Is Russell now leading the markets higher? Or is the correct conclusion simply that we remain within the trading range? I think it's the latter. Neither the bulls or the bears have sufficient strength to dominate the trend.

It was interesting to watch the VIX today. When the markets opened lower, VIX rose as one might expect. But as the initial decline moved into a choppy sideways pattern, VIX actually closed slightly lower at 12.1%. That is bullish.

Trading volume rose with 2.5 billion shares of the S&P 500 stocks trading. Trading volume on the NYSE rose 9% and increased 17% on NASDAQ. Presumably this volume push was based on all of the stocks announcing earnings today and tomorrow.

I closed my August iron condor yesterday for a gain of 14.8%. This brings the year to date gains for the Flying With The Condor™ service to +32%. If I count the current gains of the open September position, it boosts our year to date results to +38%.

Check out my free webinar tomorrow. See the Coming Events page on this web site. Consider coming with me to New York City for the All Stars of Options Trading in September and/or the Traders Expo in Las Vegas in October. I would enjoy meeting with you in person.