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Tuesday, October 6, 2015

S&P Rallied 100 Points From the Low Fri - Market Will Rest and Hold the Gains


One Option Trading Blog http://ift.tt/1LvOIOw Posted 12:30 PM ET - Friday the market sold off after a weak jobs report and it found support above the low from Wednesday. A double bottom pattern has formed at SPY $187.20 and we witnessed a sharp reversal. The price action yesterday was bullish and we've rallied 100 S&P points from the low on Friday. Prices are overextended and the market will take a breather today. Earnings season will kick off on Thursday, but the major releases won't start until next week. The FOMC minutes on Thursday won't mean much. Fed officials will change their tone after the dismal jobs …

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