Market Action Will Pick Up Soon - Wait For It To Pick A Direction

One Option Trading Blog http://ift.tt/2iJyfP5 Posted 9:30 AM ET - Yesterday the market reacted negatively to the North Korean missile launch over Japan. Stocks made an early low and support at SPY $243.80 was breached. The market bounced off of the low and it spent the rest of the day grinding higher. If Asset Managers were in "risk off" mode we would've seen more pronounced selling. Instead, the price action suggests that the bid is still strong. We've seen profit-taking in the last two weeks and the moves never gained traction. In each instance the declines were one day events. The news is extremely quiet on …