Trade Update – This market is just itching to go up

Retail Sales, ex-autos and ex-gasoline came in better than expected at an increase of 0.6%, which is good news for the economy.  Investors got a little spooked, however, by the fact that wholesale inflation popped up a little worrying everyone that the FED might now have to raise interest rates sooner.   But this is very premature and probably won’t be an issue for many more months.  Overall, this market is still in a confirmed uptrend, and is itching to climb higher.

Per our RUT Sep 620/630 bear call spreads options and our SPY Sep 108/111 bear call spread options, they are still safe, even though the market is continuing to trend upward, and most likely we’ll be ok through expiration.   We’ll keep you posted if we decide to close them out early.