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Tuesday, May 23, 2017

FOMC Minutes Possible Speed Bump - Market Should Find Support At SPY $238


One Option Trading Blog http://ift.tt/2q722V3 Posted 9:15 AM ET - Yesterday the market staged an early rally and it was trapped in a tight range the rest of the day. In the last week we've seen a 2% correction and a snapback rally. The FOMC minutes tomorrow could spark another round of profit-taking. We are currently in a news vacuum. Flash PMI's will be posted tomorrow, but they mean less now the China doesn't provide this data. Global economic growth is moderating and recent domestic numbers have been solid, but not strong. The Fed cited seasonal weakness in Q1 and stronger growth in Q2. They have …

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