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Tuesday, May 10, 2016

News Vacuum Sucks the Life Out of the Market - Watch For Bearish Signs


One Option Trading Blog http://ift.tt/1rQ1U8l Posted 9:30 AM ET - Yesterday was one of the slowest days I can remember. The range was tight and the volume was very low. We are in a news vacuum and we can expect more of the same. Earnings season is winding down and retailers will post this week. Discounts are deep and that will hurt profit margins. These releases will have much of a market impact. Support is at SPY $204 and resistance is at $207. There is a positive tone to the open and we could challenge $207 today. I don't believe we will get through it. I …

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