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Thursday, May 7, 2020

Buy Back the SPY Short At This Price - I’m Not Bullish - We Will Wait For A Technical Breakdown


One Option Trading Blog https://ift.tt/2A2kGDa Posted 9:30 AM ET - The market is waiting for signs that the global economy is ready to reopen. There isn't much clarity and Asset Managers are latching on to any information they have. China's exports exceeded expectations and that has attracted buyers this morning. The S&P 500 is up 45 points before the open and resistance at SPY $288 will be tested again. China's exports rose 3.5% (-15.7% expected) from a year ago and imports fell 14.2%. Much of this increase was related to a backlog of orders that resulted from the shutdown. Medical supply exports could have contributed as …

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