Market Will Probe For Support Today - Fed Comments Were Hawkish

One Option Trading Blog http://ift.tt/2hAd8dj Posted 9:30 AM ET - Yesterday the market sold off after a hawkish FOMC statement. The Fed expects three rate hikes in 2017 and that is up from to rate hikes. Janet Yellen said that economic growth is improving at a nice pace and that inflation could get to 2% by 2018. As I mentioned in my comments yesterday, any surprise would favor the downside. Stocks held firm after the announcement, but selling quickly surfaced and support at SPY $227 was breached. There were a number of 10 point S&P swings yesterday and that is a sign of two-sided price action. …