One Option Trading Blog https://ift.tt/3ay7tQZ Posted 9:30 AM ET - Tuesday the market showed some vulnerability to profit-taking and the early gap higher was reversed. That price action resulted in a bearish engulfing pattern. Buyers stepped in yesterday and the S&P 500 rallied all day, closing 15 points from the all-time high. The high from February will act as a magnet, but resistance is building and tiny bodied candles reflect that. The move higher has come on light volume and these gains can't easily be stripped away. This is a very light news cycle and I believe that the upside rewards are smaller than the downside …
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