One Option Trading Blog https://ift.tt/2GUq6kl Posted 9:30 AM ET - The SPY has established a firm support level at $282. It has been tested twice and it is above the 200-day MA. Wednesday we saw a swift reversal from that level with follow through buying this morning. Horizontal resistance at SPY $288.20 has been breached this morning and the market will try to fill-in the gap. It will challenge the 100-day moving average today and we should spend time at that level over the next few weeks. Trading ranges will compress and the volume will decline during a news vacuum. The landscape has not changed much …
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