Bad News Will Keep A Lid On the Market - Wait For A Drop

One Option Trading Blog http://ift.tt/2eKK0nd Posted 9:30 AM ET - The market will have to weather a number of events in September. The FOMC meeting, the debt ceiling, North Korean missile tests, hurricane Harvey and hurricane Irma are casting a dark cloud over the market. Stocks are at their all-time high and resistance is stiff. I don't believe we will have a meaningful rally until we pull back to the 100-day moving average. This is a seasonally weak period for the market. If we breakout to a new all-time high, I will participate passively (only a few call positions and day trading from the long side). …