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Daily Option Trading Commentary

FOMC Statement Likely To Be More Hawkish - Watch For Negative Reaction

July 27
Posted 9:40 AM ET - Yesterday the market probed for support and the selling was brief. Buyers stepped in and stocks closed in positive territory. Apple posted better than feared results and the stock is rebounding this morning. That will put a bid under the tech sector. Amazon and Google will release tomorrow after the close. The FOMC statement today could include hawkish rhetoric. Labor conditions have improved and the Fed knows that Brexit is not raising credit concerns. I believe the reaction to the statement will be bearish, but the selling will only last a day or two. Earnings…
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