Market Will Not Have A Meaningful Bounce Until This Happens

One Option Trading Blog https://ift.tt/2HqtSSM Posted 9:30 AM ET - Dovish Fed remarks in Jackson Hole sparked little buying Friday before the bottom fell out. China plans to impose tariffs on US goods and Trump said that he would respond later in the day. The market expected the worst and the S&P 500 fell 30 points in 5 minutes. Stocks sold off the rest of the day and Trump’s initial response was very negative. He has since softened the tone and we are seeing a small bounce morning. Buyers will not be tempted until we test support at SPY $280 - the 200-day moving average. Trump …