FOMC Reaction Will Be Bullish - Trade From the Long Side Today

One Option Trading Blog http://ift.tt/1ZQUnS1 Posted 9:20 AM ET - The market has been trying to work off a light round of profit-taking the last few days. Support at SPY $207.50 was tested yesterday and it held. The FOMC will release its statement this afternoon and I'm expecting a bullish reaction. Last month’s dismal jobs report and the threat of Brexit will tame the Fed’s tone. FOMC meetings have been bullish for years and after the recent pullback, we have a little room to the upside. Quadruple witching will "goose" the market and we should finish the week on a positive note. Next week we will …