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Daily Option Trading Commentary

Market Could Hit A Speed Bump Overnight - Watch This News

February 20
Posted 9:30 AM ET - The market is addicted to good news and the well is running dry. The S&P 500 is above the major moving averages and the next obstacle is horizontal resistance at SPY $281. Trading volume has been fairly light and most of the moves have come overnight. Today the FOMC minutes will be released. During the last meeting the Fed turned decidedly dovish. In yesterday's comments I mentioned that some officials only see one rate hike this year (down from two). Traders will try to determine the pace of balance sheet reduction. Good news is priced…

 

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