One Option Trading Blog http://ift.tt/1ciITDm Posted 9:40 AM ET - The market started the week off on a sour note and the SPY fell below $212. The breakout failed and bullish speculators were flushed out. Once the selling momentum was established, Asset Managers pulled bids. Traders often take extra time off around holidays and there was no one to stand in the way of yesterday's decline. The breakout last week came on light volume and the level of conviction was low. Tuesday's selloff came on heavy volume and that is slightly bearish. I'm not going to read too much into the move since we are coming …
No comments:
Post a Comment