The Market Needs To Set An Early Low and Grind Back - Try To Stick With Long Positions

One Option Trading Blog http://ift.tt/1Kyr69Q Posted 9:00 AM ET - Last Monday, the market fell to levels not seen since October 2014. It instantly bounced and we have not been able to challenge that low. I believe SPY $182 is the lowest level we will see this year – even if the Fed hikes in September. The market is down 15% from its high and we have the correction everyone has been waiting for. US economic conditions are stable, but growth is sluggish. Actions by the PBOC and by China’s government will stabilize Asian markets into year end. I don’t believe the Fed will hike rates …