Lots of Potential Speedbumps This Week - SPY Support At $212 Is Critical

One Option Trading Blog http://ift.tt/2eTMb2V Posted 9:30 AM ET - The market is wound very tightly and we have been in an extremely tight range since July. The longer and tighter the range, the bigger and more sustained the breakout. We are dangerously close to major support at SPY $212 and that makes day trading from the long side more dangerous. Last Friday we drop below $212 on news that the FBI was reopening the Clinton e-mail investigation. Over 600,000 new e-mails were found and this is a rather unusual move by the FBI given that we are a week away from the election. The potential …