Market Will Challenge SPY $205 Next Week - Bid Will Be Strong Into GOOG and AMZN

One Option Trading Blog http://ift.tt/1Lek88X Posted 12:30 PM ET - Yesterday, the market opened on a positive note and it was able to hold support at SPY $200. Bullish speculators were flushed out and buyers stepped in. Once the momentum gained traction we closed above $202. We are likely to grind higher next week and SPY $205 is the next target. China will post IP/retail sales/GDP this weekend and the results will impact trading Monday morning. These releases should be better than feared and I'm expecting a nice open Monday. Google and Amazon will post next Thursday and Asset Managers will want to buy ahead of …