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Friday, June 21, 2019

Day Trade From the Long Side - Wait For Support


One Option Trading Blog http://bit.ly/2Y2lhMo Posted 9:30 AM ET - Yesterday the market shot higher after a dovish FOMC statement Wednesday. The bid was checked early Thursday and stocks retraced filling the gap. Once support was established the rally resumed and we almost closed near the high the day. Quadruple witching helped to fuel the move. This morning stocks are giving back some of the gains. From a fundamental standpoint everything that I've been outlining is valid. Major global economies are decelerating and in almost every case manufacturing PMI's are in contraction territory. Central banks are as dovish as they can be, but with interest rates …

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