SPY and QQQ Need To Test Major Support - Earnings Bounce Coming

One Option Trading Blog http://ift.tt/2toSlkB Posted 9:30 AM ET - Stocks took another tumble yesterday as hawkish FOMC minutes weighed on the market. Investors are worried that Fed tightening will stifle moderate economic growth. The S&P 500 and the QQQ are hovering above major support levels. ADP reported that 158,000 new jobs were created in the private sector during the month of June. That is much lighter than expected. I trust this number because ADP processes payrolls for small and medium-size businesses. They have their finger on the pulse. This morning the Unemployment Report showed that 222,000 jobs were created in June. That is better than …