One Option Trading Blog http://ift.tt/2bo5h2U Posted 9:30 AM ET - We have one more week until the summer doldrums end. The market is likely to probe for support when Yellen start speaking at 10 AM Eastern Time. Support at SPY $217.50 should fail and the market could drift lower today. Labor conditions are improving and credit markets are stable (Brexit was a non-event). This leaves room for a rate hike this year. Wednesday we saw a little selling pressure and it was easy to topple stocks. Trading volumes remain light. Asset Managers won't chase stocks near an all-time high and they are aware of seasonal weakness. …
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