Don’t Buy This Market Breakout - Wait and See - It Could Be A Great Short!!

One Option Trading Blog http://ift.tt/1UVmjDW Posted 9:30 AM ET - The market has been resilient this week and it has been able to tread water below major resistance at SPY $200. That is the 100-day moving average and it is a significant horizontal level as well. As expected, the ECB cut rates by 10 basis points and the market loved the news. The S&P futures rallied 18 points after the announcement. The S&P 500 is above the 100-day moving average and horizontal resistance. It is challenging the high from last week and we will see if it holds. The 200-day moving average is 10 only points …