Wednesday, October 31, 2018

Relief Rally Will Be Tenuous - Stay In Cash For 1 More Week


One Option Trading Blog https://ift.tt/2Q9sjLt Posted 9:30 AM ET - Yesterday the price action was extremely choppy with 20 point S&P moves in both directions. The final move was to the upside and this is the first decent close we've had in weeks. This price action was constructive and it tells me that there are buyers. In October we've only seen sellers and once the momentum has established for the day the bottom falls out. We need to break this pattern of higher opens and lower closes. I sense that a bottom is close, but we will see lots of volatility ahead of the FOMC and …

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