One Option Trading Blog https://ift.tt/2WKVUib Posted 9:30 AM ET - Last week the market broke out to a new all-time high. It tested the breakout twice and both times buyers stepped in late in the day. Those long tails under the body of the candle confirmed the breakout. Swing traders bought a half position of the SPY on the open Friday. Stocks will open strong this morning. The light volume we saw in October suggests a low level of conviction. Asset Managers are not going to aggressively chase stocks at the upper end of their valuation range (forward P/E of 17). The big volume the last …
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