One More Day of Selling - Market Will Rally After FOMC - Buy At These Levels

One Option Trading Blog http://ift.tt/2G5oh4X Posted 9:30 AM ET - The market has dropped 100 S&P 500 points in the last seven trading days and the selling pressure has been steady. Traders are nervous ahead of the FOMC statement tomorrow. Don't trust the early rally this morning. We are going to probe for support and the market will settle into a tight range the rest of the day. I believe the Fed's tone will be dovish. That is typical after a rate hike and the new chairman will not rattle an already nervous market. Inflation (wage and price) is moderate and that will give the FOMC …