Market Will Test This Key Support Level Today - It Needs To Hold

One Option Trading Blog http://ift.tt/2vS2f07 Posted 9:20 AM ET - I don't have anything new to add. North Korea is grabbing the headlines, but the market is simply tired after a nice run. DC and the Fed are on vacation and that makes investors nervous. Tightening in September and the debt ceiling will weigh on stocks. Retail earnings will not excite. Support at SPY $246 will be tested and we need to close above it. A breakdown would be mildly bearish. The market tried to make a new all-time high on light volume Tuesday and the move lacked substance. Bullish speculators were lured in and the …