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Friday, August 24, 2018

Get Long and Wait For the Breakout - Buyers Will Return After Labor Day


One Option Trading Blog https://ift.tt/2LmUWS6 Posted 9:30 AM ET Aug 24th - The summer doldrums will continue through Labor Day. We are in a news vacuum and the market needs a material event to push us through the all-time high. The breakout is not as important as the follow-through. We can expect a few mini breakouts and these head-fakes will stall next week. Trading volume is low and it will decline next week. A handshake trade agreement with Mexico is expected in the next two weeks. That would be market friendly, but not enough to fuel a major rally. We need specifics. Trade talks with Europe …

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