Last weekend, in my Market Forecast, we discussed:

"For the new week, Friday's afternoon selloff negated a breakout. It looks like markets are still consolidating. The support levels may need to be tested again: SPX 1980 and Nasdaq 4500."

Well, thing pretty much happened as discussed.  On Monday and Tuesday, the market slipped.  On Wednesday, as soon as SPX and Nasdaq tested their respective support levels, buyers came in.  The buying pushed SPX to almost 2000.  But, Thursday brought renewed selling pressure, and SPX closed below 1970!  Buyers came in again on Friday, driving SPX above 1908 and Nasdaq above 4500 for the close.

We took profits on the downside.  All of our closed trades were in the positive, although we closed some of the puts a bit early:

• 11:50 | HappyTrading VIX ($16.00) Sold to Close 10C13 Oct 13 calls, at $2.85 +30%
• 06:39 | HappyTrading GOOG ($585.00) Sold to Close 0926P590 Sep 590 put, at $7.00 +35%
• 11:59 | HappyTrading CAT ($101.00) Sold to Close 10P105 Oct 105 put, at $5.00 +22%
• 07:33 | HappyTrading GOOG ($588.00) Bought to Open 0926P590 Sep 590 put, at $5.20
• 07:00 | Ecstatic Plays TSLA ($254.20) Sold to Close 0926P260 Sep 260 put, at $7.70 +24%
• 06:39 | Ecstatic Plays SCTY ($63.00) Sold to Close 0926P65 Sep 65 put, at $2.70 +36%

For the week, the Dow was down 166.59 points; SPX lost 27.55 points; Nasdaq dropped 67.6 points.  Gold was basically flat, while oil bounced a bit to close near $93/barrel.  At the time of this writing, Asian markets were mixed, with Hong Kong down almost 2% on democracy protests against China's voting policy for Hong Kong's chief executive.  Let's see how the US markets looked after Friday's close:

SPX

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