Market Support Will Hold - Wait For Dips and Sell Bullish Put Spreads - Keep It Small

One Option Trading Blog https://ift.tt/2AOe24p Posted 9:30 AM ET - Last Monday the S&P 500 bounced off of the 200-day moving average and we saw follow through when it gapped higher on Tuesday. The market spent the rest of the week filling in that gap from Tuesday. Friday we had a gap reversal. Once the downward momentum was established, quadruple witching sell programs kicked in and stocks closed on their low of the day. I believe that Friday’s selling was program driven and that we are going to see sideways price action for the next few weeks. Economic releases are light and earnings season is a …