The markets opened and traded sideways most of the day. SPX made a run higher in the last hour of trading, but gave up most of that gain before closing roughly unchanged at $1258 (up only $1) and RUT was flat at $747. Trading volume also fell off with only 2.7 billion shares of the S&P 500 trading. Trading volume was down 11% on the NYSE and was down 12% on NASDAQ. The VIX rose slightly today to close at 28.1%.

No significant economic data was reported today. The market appears to be treading water while waiting on the Euro Zone summit later this week. But I will be surprised if we receive definitive news out of the summit.

My Jan iron condor on SPX stands at a P/L of -$900 with delta = -$49 and theta = +$89. Now we return to the Euro Zone watch...