One Option Trading Blog https://ift.tt/2WoQWZJ Posted 9:30 AM ET - Yesterday the market tried to challenge horizontal resistance at SPY $323.40 and it is within striking distance of that level. Asian markets were weak overnight and the S&P 500 is down 20 points before the open. Use this opportunity to take profits and to reduce your risk exposure. I believe that the market is vulnerable to profit-taking in August. The Coronavirus is spreading and many states are stuck in Phase 3. Major cities are considering a complete shutdown. This will dramatically lengthen the economic recovery and credit issues are likely to surface. This morning retail sales …
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