One Option Trading Blog http://ift.tt/1UyJiVT Posted 9:00 AT ET - The market has broken support at SPY $207 and it will challenge the lows from last week this morning. Mega cap tech stocks disappointed and we are seeing profit-taking. Stocks are fully priced and there is not a catalyst to push us higher. I believe major support at SPY $200 will be tested in the next month. Central bank money printing (BOJ, PBOC and ECB) sparked the rally the last two months and that stimulus is gone. The FOMC stated that global risks have receded and the rhetoric is a little more hawkish. Commodity stocks surged …
No comments:
Post a Comment