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Monday, December 5, 2016

Market Will Trade Between the Low From Last Week and the All-time High


One Option Trading Blog http://ift.tt/2gHeSTV Posted 9:30 AM ET - Last week the market pulled back from its highs and it tested the breakout at SPY $219.30. That support level seems to be holding for now and stocks are poised to open higher. This will be a choppy week and we will stay between the low from last week and the all-time high. The FOMC meeting is nine days away and a rate hike is baked in. Traders will closely monitor the statement for any hints of future rate hikes. They are trying to gauge the timing for the next move. I expect to see nervous …

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