One Option Trading Blog http://ift.tt/2Gwa918 Posted 9:30 AM ET - Yesterday the market drifted lower and I believe the selling will end today or early tomorrow morning. This retracement is typical after a 12% correction. Once the bid is confirmed we will see the next leg higher. Stay long. This afternoon the FOMC minutes will be released. This could be a small speed bump. The Fed knew the unemployment number before it released its statement, but it did not know the market’s reaction. If it did, the rhetoric would have been dovish and I suspect it was balanced. The new Fed Chairman (Powell) wants a smooth …
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