One Option Trading Blog http://ift.tt/24OiKRu Posted 9:20 AM ET - We are starting to see some profit-taking. The market drifted lower the entire day Friday and it closed on its low. Bulls tried to support the market yesterday and they threw in the towel. The bid deteriorated throughout the day. The SPY closed below support at $209 and this morning it will test support at $207.50. Asset Managers do not want to chase stocks at an all-time high ahead of the FOMC and the Brexit vote. They have pulled bids and they are gauging the selling pressure. We won't see a bounce today until we hit …
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