Fed Official Spooks Investors - It Was Just A Matter Of Time - Watch SPY $217.50

One Option Trading Blog http://ift.tt/2b4V7PR Posted 9:30 AM ET - The summer doldrums continue and trading volumes are extremely light. Daily S&P ranges are compressed and there is no momentum. Even the FOMC minutes did not generate volume on Wednesday. The dip this morning is related to comments from a San Francisco Fed official. He said that there is room for a rate hike this year and that all meetings are "live". That is sparking a light round of profit-taking. In my comments I've told you that this was likely given the strong July labor report. Brexit did not have a lasting effect and those worries …