Yesterday's session recap

A lacklustre day on the markets yesterday. Most of the major indices finished slightly lower apart from the Dow. Market internals were a little weak with breadth coming in 60% negative and A/D lines around -400 for both exchanges. Cumulative ticks finished at a paltry +5,000. Volume was a bit of a surprise coming in quite strong on both the ES and the SPY. SPY was particularly strong finishing above the 30 day median average. From a logic point of view, I'd say that most of the shorter term traders that caught this nice move up probably closed out their positions and we probably got a few other traders opening up some new ones on the pullback. The market may pull back from here a little but from my point of view, that would be another opportunity to get long. I finally exited my the remaining short call spreads on the RUT and so I'm firmly long now (long RUT, AAPL, GS) and short the bonds via short out of the money call spreads on the ZB. At this point, for trade ideas I still like going long via short term (weekly) butterflies.