One Option Trading Blog https://ift.tt/2o8PTio Posted 9:30 AM ET - Yesterday the market continued its slide from Tuesday and it broke through horizontal support at SPY $294 and the 100-day moving average. The uptrend line from May is the next level of support at SPY $288 and the 200-day moving average represents major support at $283.50. If we test it I'm expecting it to hold. A weak ISM manufacturing number sparked the selling Tuesday. What happened to the "bad news is good news" crowd? ISM manufacturing was soft last month and it fell into contraction territory. It did spark a little profit-taking, but that quickly reversed …
No comments:
Post a Comment