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Monday, August 1, 2016

Exit Overnight Longs - Risk Increasing Daily - Use SPY $215.75 As A Guide


One Option Trading Blog http://ift.tt/2alSr1U Posted 9:40 AM ET - The market is trapped in a very tight range. In the last two weeks it has been stuck between SPY $215.75 and $217.50. Mega cap tech stocks fueled a QQQ breakout, but the DIA and SPY are just treading water. The selling pressure will increase with each passing week. Official PMI's were in line this morning. ISM manufacturing will be posted 30 minutes after the open and it should not have a major market impact. ISM services will be posted on Wednesday and it has been improving. ADP will be posted on Wednesday and we get …

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