Wednesday, March 30, 2016

Yellen Remarks Push The Market To A New 2016 High - Use SPY $205 As A Guide


One Option Trading Blog http://ift.tt/1SmxXmj Posted 9:45 AM ET - Yesterday the market rallied on dovish comments from Janet Yellen. The SPY rallied to resistance at $205 with ease and we made a new high for 2016. This morning, we are seeing follow-through buying. I don't trust opening gaps and I normally like to fade them. In this case, I won't. Mega cap tech stocks caught a bid yesterday and this is the rotation I've been waiting for. They are the key to the next leg of this rally. I will wait for a small dip early this morning and I will look for an opportunity …

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