The markets spent the day underwater, but a strong rally in the last 30 minutes of the trading session repaired almost all of the damage. SPX closed down one dollar at $1351 and RUT closed at $821, down $4. Trading volume bumped up to the 50 dma in the S&P 500 stocks with 2.9 billion shares. Trading on the NYSE increased 9% and spurted up 32% on NASDAQ. Retail sales increased 0.4% in January, but concern about the precarious situation in Greece appeared to weigh on the markets. Notice how SPX once again seemed unable to penetrate that $1350-$1355 area. Breaking through and holding above that level will be a strong bullish signal.

My Feb RUT iron condor spread at 770/780 and 850/860 stands at a P/L of +$1,940 with delta = -$1 and theta = +$304. The Mar position at 730/740 and 860/870 stands at a P/L of -$1,260 with delta = -$92 and theta = +$155. The Mar position is sitting right at the tipping point to require adjustment. We'll see if the bulls reassert themselves tomorrow - that last half hour today looked pretty strong...