One Option Trading Blog https://ift.tt/3imPdwX Posted 9:11 AM ET - Yesterday we got an important piece of technical information. The market tried to add to gains from Wednesday’s bounce and the selling pressure regained its momentum Thursday. Stocks closed on the low of the day and support at SPY $333 was tested easily. This price action tells us that the selling pressure is heavy and that we can expect the low from this week to be violated. Swing traders with a longer term horizon should be in cash and day traders should prepare for shorting opportunities. Typically, the first wave of selling after a buying climax …
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