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Daily Option Trading Commentary

Market Hitting Resistance - Stay In Cash and Wait For Dip

December 15
Posted 9:50 AM ET - Yesterday the market hit one of the potholes I referenced in my comments and the S&P 500 dropped. The tax bill still has to go through the process and I'm confident it will be passed. Stocks have run hard the last few months and resistance is stiff. When the market did not rally after dovish FOMC remarks, a red flag was raised. Republicans need to convince Democrats to extend the budget into January to avoid a shutdown. This has to happen before next Friday and I believe it will. Democrats will flex their muscles and…
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