One Option Trading Blog http://ift.tt/2pq72To Posted 9:30 AM - Last week the market showed some signs of strain. I thought the downside might be tested and I mentioned it earlier in the week. The SPY closed below the 50-day moving average and a wedge pattern was breached. Volume was moderate and this move needs to be respected. Earnings season typically attracts buyers. J.P. Morgan Chase, Citigroup and Wells Fargo reported last Friday. Financial stocks have been drifting lower and they were on major support levels before the announcements. They have plenty of upside and a bounce would have set a bullish tone for the upcoming week. …
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