One Option Trading Blog http://ift.tt/1QJydw5 Posted 9:40 AM ET - Yesterday, the market probed for support and it fell below SPY $192. The mood is extremely pessimistic. Once the selling momentum started we never saw an uptick. The SPY is just above the closing low from August ($187.20) and I believe that support will be tested today. It is unusual to see huge back-to-back declines and I feel that level will hold for now. We won't see a meaningful rally until we hit an air pocket. The bottom will drop out and we will see a sharp intraday reversal that never looks back. That will mark …
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