Monday 30th of August

The S&P futures just closed down 19 points (-1,79%), which is considerably more than what I had expected after Friday's strong close. One postive thing is that the volume today is not that high (1.486m contracts traded vs. 2.451m Friday), so could still be a correction lower following the rally of 6 sigma's on 60min chart (move of 6 standard deviations). A so called "no supply" bar, which is a narrow down bar closing on the lows on volume less than previous two bars. The only slight problem is that the bar is bit too wide to fit that description, but trading is of course no exact science, so with a bit margin for error it could fit the description. I posted the 60min charts this morning on Stocktwits http://chart.ly/btgpx2v , saying it was overbought and pointed out falling resistance from high was coming in at 1068 and was looking for small correction, but never to break 1050 today. At the end of the day, I managed to do ok as I hedged the 1060 puts on the way down and sold a 1060 call for expiration tomorrow when it broke 1057. I closed that 1060 call towards the end of the session for about 2.5 points gain and I also made about 11 points in the futures trading short only. However I did take profit a bit too soon on the short side and missed the last 5 points of the move lower. I did close the FSYS calls early on in the session as I saw them opening at around 4 vs. the 2.75 I bot them for on Friday, was able to get out at 3.80 and 3.90, so that was nice.
At the end of the session I made some adjustments given the weak close. I bot back the 1060 puts for 13.50 points loss, so now only have puts at 1030 and 1020 and a small position at 1050 short put for September. I sold 1050 call for September as well, giving me effectively a 1050 short straddle. I rolled back the 1070 short calls for expiration 3rd September (closed that for 11 points gain) to 17th of September (getting about 10.50 to 11 points for selling them), leaving me with 1070, 1080 and 1090 short calls. Have 1100 short calls for October as well. That was about it for today. Tomorrow is the last day of month, good luck.