One Option Trading Blog http://bit.ly/2DXnOj5 Posted 9:30 AM ET - Yesterday the market saw some follow-through profit-taking after the FOMC statement on Wednesday. Support at SPY $291 held and stocks are up before the open. This soft patch has run its course and the market should continue to grind higher. The Fed is dovish, but they did not signal a future rate cut. That sparked some profit-taking - the market always wants "more". Global economic conditions are weak. All of the major economies have PMI's that are straddling the contraction level of 50. Some are slightly above and some are slightly below. Many traders are betting …
No comments:
Post a Comment