One Option Trading Blog https://ift.tt/3mQySmX Posted 9:30 AM ET - Yesterday the S&P 500 gapped 55 points lower on the open and it was able to hold the low of the day. Buyers nibbled and stocks rallied in the afternoon. This pattern made it seem like a victory for bulls, but the technical damage was clear. The S&P 500 closed well below its 50-day moving average and the 100-day moving average is within striking distance. I expect to see more selling in the next week. There wasn't any incremental news overnight and the S&P 500 is flat before the open. The big drop yesterday was over-extended. …
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