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Daily Option Trading Commentary

Market Has A Small Speedbump Today - FOMC Minutes Will Be Hawkish

August 16
Posted 9:30 AM ET - Bullish speculators have been flushed out and the bid is building. The FOMC minutes this afternoon could provide a headwind. The Fed wants to tighten and they will start reducing the balance sheet in September. We might see a little nervous trading today, but stocks will gradually recover Thursday and Friday. Earnings season is winding down, the economic news is light, the Fed is in recess, politicians are on holiday and traders are taking time off. These are the summer doldrums and they will continue through Labor Day The next rally should hit resistance at…
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