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Friday, July 10, 2020

Market Will Be Trapped In A Range - Here’s Why and Here’s the Trading Strategy


One Option Trading Blog https://ift.tt/3eixRyr Posted 9:30 AM ET - There is nothing incremental to report overnight and we are in a news vacuum. Major economic releases were better-than-expected last week and we are waiting for earnings season to start next week. Buyers are typically engaged ahead of mega cap tech earnings so the bid will be strong on any dip to the 200-day moving average. The Coronavirus is spreading and it will impede our economic recovery. This will keep a lid on the market and resistance at SPY $318 is building. We are likely to trade in a fairly wide range the next few weeks. …

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