Friday, July 24, 2020

Market Undertow Is Heavy - Swing Traders Go To Cash - Day Traders Get Ready To Short


One Option Trading Blog https://ift.tt/2WSWXOj Posted 9:30 AM ET - Yesterday the market made a new relative high and it looked like we would continue to rally into earnings season. The tone soured quickly and the S&P 500 fell 50 points, closing on its low. The selling pressure was heavy and we are seeing follow-through this morning. I've been warning you for weeks that the upside rewards are smaller than the downside risks and to go to cash. I believe that the selling pressure will build in coming weeks. Tech earnings typically attract buyers. Netflix, Microsoft and Intel have been the first to report and in …

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