One Option Trading Blog http://ift.tt/1LLXoRo Posted 9:30 AM ET - Last week the market staged an impressive rally. It broke through horizontal resistance at SPY $195 and it challenged the 100-day moving average at $200 after a very "hot" jobs report. It is unusual for the market to move through major resistance on the first attempt and we are seeing a small pullback this morning. Basic materials, energy, emerging markets and small caps lead the rally. Macro conditions have not changed and this was a short covering bounce. Once it runs out of steam, these stocks will be ripe for shorting. FANGs lead the market last …
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