Bullish Speculators Getting Flushed Out - Good Buy Will Set Up Next Week

One Option Trading Blog http://ift.tt/2BPfSfB Posted 9:30 AM ET - The market has been nervous this week and rising global interest rates are to blame. Choppy trading is a sign of profit-taking and we can expect soft conditions for another week. Keep your powder dry and be ready to reload once support is established. A week ago I instructed you to take profits on that blow-off rally that marked a temporary top. Bullish speculators need to get flushed out and that will require a few consecutive days of selling. We need this sustained selling and I believe support will be established around SPY $275. The market …