The Empire Manufacturing Index blew estimates out of the water first thing this morning, fueling the market. But the dollar had one of its worst days since November and the dollar is still strongly tied to the stock markets in inverse fashion. RUT closed up over $10 at $621 while the SPX ran up over $19 to close at $1095. RUT has a strong resistance level at about $625 and SPX is back within reach of its strong $1100 resistance.

My Mar iron condor stands at a net loss of $830, with a position delta of -$87 and theta = +$83. Our $640 calls now have a delta of 29; that plus the fact that our delta and theta values are close to one to one show the weakness of our position. I modeled adding one more long hedge and found that delta would increase to -$51, but theta would decrease to $65. So we are nearing the limits of our adjustment. If this bullish trend continues tomorrow, I may be forced to close and roll call spreads to keep this position out of trouble.