Take SPY Profits This Morning - Good News Is Priced In and Road Ahead IS Bumpy

One Option Trading Blog https://ift.tt/2KacbYA Posted 9:30 AM ET - This morning the S&P 500 is up 75 points and our first target will be reached at the 100-week moving average. President Trump plans to reopen the country in stages and he outlined his plan. There is a sense of urgency and credit conditions will deteriorate if the lockdown continues for more than a couple of weeks. Gilead Sciences reported excellent results on their drug and that is also boosting investor confidence. We are going to take profits on our SPY position this morning. The overnight news was good and our country needs to get back …