One Option Trading Blog https://ift.tt/365ehoD Posted 9:30 AM ET - Yesterday profit-taking resurfaced and the S&P 500 dropped to its low from Monday. The selling pressure was heavy and we are likely to see more downside today. In the next week I expect to see the S&P 500 down to the 100-day moving average and that is likely to happen today. From a technical perspective, the S&P 500 has formed a downward sloping trading channel from its high. This pattern is typically resolved with a breach of the lower end of the trading channel and that could take us down to the 200-day moving average. This …
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