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Friday, April 7, 2017

Market Reversal Wednesday Was A Warning Sign - Selling Pressure Building


One Option Trading Blog http://ift.tt/2oIZ2gs Posted 9:00 AM ET - The market has been very nervous this week and the selling pressure is building. Wednesday's gangbuster ADP report was not enough to attract buyers. After a big opening rally stocks reversed and they have not been able to recover. That reversal was a warning sign and support at SPY $235 will be tested this morning. Only 98,000 jobs were created during the month of March. As I mentioned in my comments I thought the Unemployment Report would not be able to match private sector job growth reported by ADP. Initial jobless claims have been creeping higher …

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