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Tuesday, May 16, 2017

Swing Traders Stay In Cash - Day Traders Use SPY $240 As Your Guide


One Option Trading Blog http://ift.tt/2qN5e8e Posted 9:00 AM ET - Yesterday the market rallied in the first 30 minutes of trading and it flat lined the rest of the day. The S&P 500 had a two-point range and the volume was anemic. Stocks are poised to open a little higher this morning and the SPY is at the all-time high. The market could grind higher today, but I don't trust this rally. There are plenty of potential landmines ahead in the next month and I believe any surprise favors the downside. Bullish speculators will pile into this breakout and they risk having the door slammed in …

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