This remains a dreadfully drama-free market. As I type this, the ES is down all of 8 hundreths of a single percentage point. Whoop de freaking do.

One bit of obsession for me remains the Dow Utilities, on which I have an obscene number of January 2019 puts. Today, for the first time in months, we’re causing a tiny bit of damage to the ascending trendline. Nothing definitive, but it certainly helps.

Looking at a larger amount of time, you can see how important this broken wedge could be.