Start Shorting Early Today - The Market Will Probe For Support

One Option Trading Blog http://ift.tt/2f4GGhG Posted 9:30 AM ET - The market continues to search for support. We are below the 100-day moving average and key horizontal support at SPY $212. I don't believe we will see a meaningful rally until $208 is challenged and I will start shorting when the bounce this morning stalls. Fed officials are intent on raising rates in December and that came out in the statement yesterday. ADP came in at 147,000 and the jobs report will not mean much tomorrow. The polls are tightening and if the market tanks after the election, the Fed might delay the rate hike. The …