One Option Trading Blog http://bit.ly/2ETrfci Posted 8:00 AM ET - The market was overdue for a big bounce and yesterday we witnessed the largest gains ever for a single day. The Dow Jones Industrial Average was up more than 1000 points and stocks closed on their high of the day. Unlike a capitulation low where the market slingshots to a new relative high, this is only a bounce. Bearish sentiment hit extreme levels and shorts are running for cover. I believe this move will last a few more days. Wednesday the SPY breached the low from Monday and it instantly reversed. The buying pressure was steady …
No comments:
Post a Comment