Market Gains Held Yesterday - The Bid Is Strong and So Is Resistance - Use This Option Strategy

One Option Trading Blog https://ift.tt/2WHZqeR Posted 9:30 AM ET - Yesterday the market surged higher and it challenged technical resistance at SPY $295. The opening gap higher held throughout the day and buyers were encouraged by the economic reopening and by a promising vaccine developed by Moderna. The 100-day moving average is within striking distance and we are likely to test it this week. Asset Managers are relying on a safety net provided by the Fed. In a 60 Minutes interview last Sunday, Jerome Powell said that the Federal Reserve still has plenty of firepower left in the war chest to get the economy back on …