The market is down large in pre-market moves, led by tech stocks, which have taken hits over the last week and a half. The shift in momentum comes as the yield increases as expectations for a Fed tapering continuing and inflation continues to rise.
Commodities also seem to have taken a swing, especially natural gas, which has been up double digits a day over the last two.
My positions are currently hedged, but I went long/puts yesterday at the market bottom. The market seemed to gain momentum yesterday in the afternoon, but was met with a big sell off right before close. This week seems to be trading similar to last week, and last week had tech stocks making a late push.
#TSLA had seen strong bullish momentum yesterday, breaking the 50 day average and finding strong support ahead of TSLAs production cycle
I will be looking to catch some middle strangles here and trade around my current positions. If today sees an increased sell off getting into a 3-4% window for tech , it will break my STD range on my trades.