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Monday, May 2, 2016

Passively Bearish - Economic News Will Not Spark Fear Of A Rate Hike


One Option Trading Blog http://ift.tt/24iFwpG Posted 9:45 AM ET - Last Friday the market started to show signs of weakness. The SPY breached horizontal support at $207 and it tested $205 before buyers stepped in. We saw a late rally and there is follow-through buying this morning. Mega cap tech stocks have reported and they did not spark excitement. Microsoft, Intel, Netflix, Apple and Google disappointed. Amazon and Facebook were the only bright spots. These stocks have led the rally the last few years and they've lost their leadership. Basic materials and industrials have led the rally. Global economic activity is sluggish at best and the …

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