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Monday, July 28, 2014

FOMC and Strong Economic Data Could Spark A Light Round of Selling. Buy the Dip



One Option Trading Blog http://ift.tt/1k3FL1m Posted 9:30 AM ET - Last week, the market got an excellent round of earnings releases. Mega cap tech stocks (Intel, Microsoft, Google, Apple and Facebook) produced great results and they moved higher. Unfortunately, the market was not able to advance. I've been mentioning that the strongest companies announce early in the earnings cycle. Optimism builds quickly and the market tends to get a little overextended. I'm not looking for a big pullback, but the market needs time to gather strength. The earnings calendar will be heavy this week, but the focus will shift to economic releases (ADP, ISM manufacturing, ISM …


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