One Option Trading Blog http://ift.tt/2uvdwDS Posted 9:30 AM ET - Yesterday the market breached a support level at SPY $246. That was a key level and it failed early in the day. Profit-taking set in and buyers pulled their bids. Bullish speculators hit the exits and the S&P 500 closed on its low of the day. There will be aftershocks for a few more days, but the market will find its footing. If you look at a chart of the S&P 500 during the last year these nasty one day events play out quickly. Prices stabilize and the market rebounds. I am expecting a similar pattern. …
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