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- Option Traders - Sell Call Credit Spreads On This Bounce.
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From its peak a week ago, the market has been steadily drifting lower from the SPY 144 level. That resistance is reinforced by a five-year uptrend line, the 200-day moving average and a horizontal resistance level that dates back over a year. This morning, prices are trying to rebound as oil pulls back slightly. We saw this same pattern last week and when oil jumped higher the next day, the market quickly retreated. Last week, the FOMC minutes painted a bleak picture. They raised their expectations for unemployment and inflation while lowering their estimates for GDP. They also voiced concern over …
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Fuente Original
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27 May, 2008| Technical Analisis |
@ 13:24