Options / Finance

Market Will Challenge All-time High - Hawkish FOMC Minutes Ignored

From One Option Trading Blog
January 6, 2017 - 9:34am
Posted 9:00 AM ET - Last week the market breached minor support at SPY $225. We saw a light round of profit-taking and window dressing also played a role. Stocks bounced this week and now that we are back above $225 we will lean on that level. I still believe the market will challenge the all-time high in the next few days. The S&P 500 was a little soft yesterday. Traders tested the bid after hawkish Fed Minutes Wednesday afternoon. Stocks rallied back late in the day and I consider this price action bullish. ADP was a little light earlier in …

Continue reading this article »