Expect Choppy Action In the Range - Next Wave of Selling After Apple On July 26th

One Option Trading Blog http://ift.tt/29jTlwF Posted 9:50 AM ET - The market over-reacted to Brexit. It sold off and rebounded. End of month window dressing helped to fuel the bounce and we are a little over-extended. Some of those gains will be given back today and the S&P 500 is down 12 points. I am very market neutral. I believe we will chop back and forth in the range ($204 - $213). China's services PMI hit an 11 month high, but manufacturing was weak. A mutual fund heavily invested in British real-estate stopped redemptions. This is only a $3B fund and it is a knee jerk …