One Option Trading Blog https://ift.tt/2OtQAxt Posted 9:30 AM ET - Last week the market fell through horizontal support at SPY $294 and it breached the 100-day moving average. Thursday we plunged to the 200-day moving average on weak economic news and we missed our entry point for a long position by a whisker. The sharp intraday reversal on Thursday formed the bullish hammer we have been waiting for and it presented an excellent buying opportunity. We bought the open Friday and our position is in nice shape. I'm expecting a grind higher this week. ISM manufacturing declined well into contraction territory and that sparked selling on …
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