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Tuesday, May 5, 2020

SPY Will Test Resistance At $288 - Big News the Rest of the Week


One Option Trading Blog https://ift.tt/2SBL0KO Posted 9:30 AM ET - Yesterday the market gapped down and support was established instantly. Stocks rallied and the gap was filled after the first hour of trading. The market spent the rest of the day in a tight trading range and volumes were down 18%. China and Japan are on holiday and we can expect a fairly slow day today. In the last hour of trading we saw a nice rally and the market finished on its high of the day. As I mentioned in yesterday's comments, we were likely to see some beginning-of-the-month fund buying. That momentum is fueling …

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