One Option Trading Blog https://ift.tt/2WvIMOd Posted 9:30 AM ET - Yesterday the market gapped higher and it rose above resistance at SPY $288. The price action looked very bullish until the last hour of trading when sellers stripped away more than half of the gains. The market finished on its low of the day and it confirmed resistance at SPY $288. An overnight rally has gradually been giving up gains after a very weak ADP report this morning. I believe that the market will try to tread water for the next week or two, but that the selling pressure will increase as the economy struggles to …
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