GDP Was Dismal - FOMC Will Soften the Blow - Get Ready To Buy Puts

One Option Trading Blog http://ift.tt/1OE6noo Posted 11:15 AM ET - The market is showing signs of exhaustion. The S&P 500 opened at a new all-time high Monday morning after strong results from mega cap tech stocks. As the day wore on, the breakout failed and stocks drifted lower. Resistance is formidable. Apple posted fantastic results after the close Monday and that should have sparked buying. Instead, the price action was very soft yesterday. The S&P 500 was down 15 points before the open today. Q1 GDP came in at a dismal .2%. That is much worse than expected. Not to worry, analysts will dismiss this as …